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Area Drilling

06/23/2008
NigeriaNigeria awarded Express Petroleum & Gas Co. Ltd. and Petroleum Prospects International Ltd., both of Nigeria, and Addax Petroleum Corp., Calgary, rights to OPL 227 in the west-central Niger Delta off Nigeria. The lightly explored block covers 210,300 acres in shallow water northeast of OML 79, where Shell operates giant EA oil field.Four wells drilled in OPL 227 in 1974-88 had shows or were noncommercial.Express, operator, and PPI hold 39% and 21% interest, respectively. Addax Petroleum will conduct technical operations, has paid a farm-in fee to Express and PPI and a signature bonus to the government, and is obligated to fund 80% of a work program.The work program is for a min...
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