Eni gets new exploration licence in Nigeria

MILAN – Italian oil and gas group Eni said on Friday it has signed a deal to become operator of the ‘OPL 135’ exploration licence in Nigeria as it aims to expand further in Africa’s largest oil producer.

Eni said it signed on Friday a production-sharing contract with Nigerian national oil company NNPC for its unit, Nigerian Agip Oil Company (NAOC), to become the operator for the OPL 135 activities with a 48 per cent stake. Nigeria’s Global Energy Company and BLJ Energy will take 42 per cent and 10 per cent stakes respectively in the licence to explore the area in the north-east of the Niger Delta, close to the Kwale/Okpai treatment plants, operated by Eni, it said in a statement.The agreement will last 25 years, with the first five years devoted to exploration and the following 20 to the development and production phase, with a contractual option of putting gas discoveries into production.Hydrocarbons will be piped to the nearby Kwale/Okpai plants to be treated and from there put into the NAOC joint venture network.Eni said its NAOC unit operates the only power station built by international oil companies and supplying the national network with around 480 Megawatt.The plant, located in the Okpai area, is fuelled by gas coming from oilfields operated by NAOC under the “zero flaring” project, which aims to eliminate gas flaring by the end of 2009.Nampa-ReutersNigeria’s Global Energy Company and BLJ Energy will take 42 per cent and 10 per cent stakes respectively in the licence to explore the area in the north-east of the Niger Delta, close to the Kwale/Okpai treatment plants, operated by Eni, it said in a statement.The agreement will last 25 years, with the first five years devoted to exploration and the following 20 to the development and production phase, with a contractual option of putting gas discoveries into production.Hydrocarbons will be piped to the nearby Kwale/Okpai plants to be treated and from there put into the NAOC joint venture network.Eni said its NAOC unit operates the only power station built by international oil companies and supplying the national network with around 480 Megawatt.The plant, located in the Okpai area, is fuelled by gas coming from oilfields operated by NAOC under the “zero flaring” project, which aims to eliminate gas flaring by the end of 2009.Nampa-Reuters