More foreign operators have acquired blocks in Nigeria, where the government is improving fiscal terms to beef up exploration and production.
Du Pont Exploration & Production BV of Holland took a farmout on four blocks (OGJ, July 22, p. 39), while the new BP Exploration-Den norske stats oijeselskap AS combine acquired two deepwater blocks on the Niger Delta.
The farmout of a 40% interest to Du Pont BV, an affiliate of Conoco Inc., covers three offshore blocks and one onshore block, all on the Niger Delta.
There are Nigerian partners in each of the blocks. Conoco will provide technical assistance to Du Pont and its Nigerian partners who are the operators for the blocks.
A seismic survey of the four blocks is to begin soon.
In the 400,000 acre onshore OPL 204, Paclantic Oil Co. Nigeria Ltd. has a 57.5% interest in partnership with Camac International (Nigeria) Ltd. holding the remaining 2.5%.
Camac also has a 2.5% interest in the three offshore blocks, which cover a combined 585,000 acres. Major partners are Cavendish Petroleum Nigeria Ltd. in OPL 453, Express Petroleum & Gas Co. Ltd. in OPL 74, and Inko Petroleum Nigeria Ltd. in OPL 204.
BP-STATOIL
Statoil will be the operator for the alliance with BP in Nigeria. The combine group was awarded OPLs 217 and 218, each covering about 2,000 sq km in 650-2,600 ft of water. There has been no drilling on the blocks.
Statoil will set up an office in Lagos and draw management and technical staff from the two companies.
For BP, the award marked a return to Nigeria after a break of more than 10 years. The company previously was a partner in the Nigerian National Petroleum Corp.-Shell Petroleum Co. Nigeria concessions but was forced out by nationalization.
The Shell combine earlier revealed terms of its improved fiscal terms (OGJ, July 22, p. 24).
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