Nigeria | Egypt Oil & Gas - Part 55
Nigeria Plans to Diversify Economy Due to Oil Prices
Falling oil prices are a wake-up call for oil producing countries to continue to diversify their economies and minimise spending, a top official from Nigeria has said. The country has set the budget based on $50 (Dh18...
Northern Offshore Terminates Contract with Oceanic in Nigeria
Northern Offshore Ltd. has issued a notice of drilling contract termination to Oceanic Consultants Nigeria Ltd. for the Energy Searcher. Northern Offshore said CAMAC Energy Oceanic had guaranteed the contract for its ...
Total Flares Out Ofon Offshore Development Field in Nigeria
Total has completed the flare out of the Ofron field on Oil Mining Lease (OML) 102 offshore Nigeria. The associated gas of the Ofon field is now being compressed, evacuated to shore and monetized via Nigeria LNG. “The...
Oil Price Drop Forces Nigeria to Adjust Budget
Nigeria has been forced to revise its budget following the dramatic fall in the price of oil. Its finance minister, Ngozi Okonjo-Iweala, says its economy will now grow at 5.5% this year, rather than 6.4%. The new budg...
Shell Reaches Settlement over Nigeria Oil Spill
Oil major Royal Dutch Shell has agreed to a $84m settlement with residents of the Bodo community in the Niger Delta for two oil spills. Lawyers for 15,600 Nigerian fishermen say their clients will receive $3,300 each ... Shell sells three onshore Nigeria oil blocks
Royal Dutch Shell’s Nigeria operation is working on selling three oil blocks in its latest move to divest some onshore assets, a spokesman said on Friday. Shell has been winding down some of its onshore operatio... Afren announces successful Ebok North Fault Block exploration well result
Afren has announced that the Ebok North Fault Block exploration well, offshore south east Nigeria, has encountered 370 ft true vertical thickness (TVT) of net oil pay in excellent quality reservoir sands. The Ebok Nor... Total tackles Nigeria gas leak
French oil company Total has begun drilling two relief wells at a gas plant in Nigeria that was shut down last month because of a leak caused by a technical incident, it said on Sunday. The leak occurred on Block OML ... 
