By OGJ editors
HOUSTON, July 20 -- Elf Petroleum Nigeria Ltd. (EPNL) has signed a production-sharing contract with Nigerian National Petroleum Corp. (NNPC) for Oil Prospecting License 223 off southeast Nigeria.
EPNL will hold a 90% share and will serve as operator. NNPC subsidiary Nigerian Petroleum Development Co. will hold the remaining 10% participating interest.
OPL 223 lies in water 200-1,000 m deep just east of OPL 222—also operated by EPNL—off Port Harcourt, where two discoveries Ukot and Usan fields are being considered for development (OGJ Online, June 10, 2002).
