NNPC REVEALS 36 OIL BLOCKS UNDER CONCESSION TO INTERNATIONAL OIL COMPANIES

The Nigerian National Petroleum Company NNPC Limited has shown in their latest data that no fewer than 36 oil blocks are under concession to international oil companies operating in Nigeria and their indigenous counterparts in the country.

An analysis of NNPCL’s latest Consolidated and Separate Financial Statements for the Period Ended December 31, 2022, indicated that the eight blocks are located in deepwater, five blocks are continental shelves, fifteen blocks are on land, five blocks are located in the swamp and another three blocks are located in partially swamp terrains.

The blocks are classified into Oil Prospecting License OPL, and Oil Mining License OML.

The national oil company’s financial statements outlined the blocks on concession to include OPLs 244, 242, 214, 223, 251, and 325, while the OMLs include 154, 139, 119, 60-63, 111, 148, 65, 26, 28 and 30.