Business Hilights
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NNPC, JV partners flag off another search for oil in Lagos

The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru has flagged off fresh search for oil in parts of Lagos.

This was made public during the flag-off ceremonies of the NNPC/First E&P Oil Mining Leases (OMLs) 83/85 partnership for marine seismic data acquisition in Lagos at the weekend.

In his remarks, NNPC boss averred that project would boost NNPC’s drive towards enhancing the nation’s abundant hydrocarbon deposits.

The corporation in a statement said the new search has reinforced the Federal Government’s commitment to further harness Nigeria’s numerous resources to enhance income streams and ultimately boost the nation’s economic prosperity.

In his goodwill message, managing director of First E&P, Dr. Ademola Adeyemi-Bero said the aim of the project was not only to grow the nation’s reserves, but also to develop the capacity of Nigerians.

Business Hilights gathered that the NNPC/First E&P OMLs 83/85 partnership for marine seismic data acquisition would be executed by a Joint Venture (JV) between NNPC’s Integrated Data Services Ltd (IDSL) and Bureau of Geophysical Prospecting (BGP), a subsidiary of Chinese National PetroleDum Corporation (CNPC).

Lagos had long joined the league of oil producing states and had shipped several barrels of oil from its Aje field near Badagry area of the state and now embarking on offshore slot search.

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