NPDC to Grow Equity Production to 500,000 bpd by 2020

“NPDC has 55 percent equity in eight blocks: Oil Mining Leases (OMLs) 4, 26, 30, 34, 38, 40, 41 and 42; Non-equity operations in four blocks of selected NNPC Joint Venture fields (OMLs 11, 20, 49 & 51); 60 percent participatory interest in four blocks (OMLs 60, 61, 62 and 63) and 100 percent ownership of six blocks (OMLs 13, 64, 65, 66, 111 and 119). In a nutshell, the Company is involved in 29 concessions which comprise of 22 Oil Mining Leases and 7 Oil Prospecting Leases,” Mr. Matashi submitted. He recounted a number of major successes recorded by NPDC: NPDC successfully drilled and completed five horizontal wells in OML 26 within nine months, leading to an incremental production of 7,000 bpd. The company had successfully turnaround OML 40 taking production from 0 bpd to 12,000 bpd. Source / More: Nigerian National Petroleum Corporation (NNPC) oilandgasOil and Gas News Undiluted !!! “The squeaky wheel gets the oil” Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook ]]>

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