Brittania-U Nigeria Limited offers Chevron US$1.2 billion for three onshore oil blocks

oil nigeria-nestor galina flickrBrittania-U currently produces a little over 5,000 bpd from its Ajapa marginal field. (Image source: Nestor Galina/Flickr)Oilfield operator Brittania-U Nigeria Limited has reportedly offered Chevron US$1.2bn to buy its three onshore oil blocks in the West African country

Chevron had earlier announced that it has been seeking to liquidate its 40 per cent stake in onshore blocs OMLs 52, 53, 55 and offshore blocks OMLs 83 and 85 in Nigeria, listing them for sale to local operators.

All the five blocks reportedly hold combined oil reserves in excess of 250mn barrels of oil and over 99mn cubic metres of gas, valued at US$400mn.

The indigenous oil firm was bidding to buy OMLs 52, 53 and 55, estimated to contain proven oil and gas reserves of 555mn barrels of oil equivalent, Business Day reported.

Brittania-U Nigeria Limited currently produces a little over 5,000 bpd from its Ajapa marginal field.

 

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Chevron to receive bids for its onshore oil blocks in Nigeria

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