OML42: Banks refinance Neconde to increase production to 100,000bpd, grow gas reserves – HEADLINE NEWS of the day

Neconde is a growing Global Energy Company in Nigeria with an unstoppable quest for being recognised as one of the leading energy companies in the world. The current production from OML 42 is approximately 10,000 bopd and the partners are working diligently to increase this production.

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He added that the country should increase oil production to 4 million barrel per day (bpd) Nigeria’s oil and gas production threatened by new militants. NDA urge Buhari to visit communities in Before we came to office, petroleum sold for about $100 per barrel.

[This Day] Abuja -The Nigerian National Petroleum Corporation (NNPC) on Sunday disclosed it had finalised a crude oil production financing deal. in the states and amendment of the Petroleum Act to allow states to issue oil mining licences, as well as the Land Use Act, Nigeria Minerals and Mining.

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Nairametrics Business News, Financial Literacy, and Investing. Production from oil mining lease (OML) 42 operated by Neconde Energy Limited, an indigenous oil and gas firm, has grown to a Neconde took over the operatorship of the acreage in May. OML 42 is also one of the oil blocks.

Neconde Kickstart joint gas production delivery with npdc. shell production: reserves suffer setback due to asset sales. Nigeria to drive OPEC oil output by 100,000BPD. Investment. Saipem, two others in consideration for .42bn zabazaba-etan devt project in OPL 245.

With the refinancing, Neconde, according to a statement from the firm, Neconde is now positioned to achieve its field development plans for the Asset. "this restructuring frees up capital for Neconde to invest in more development activities that will result in production increase." Earlier in the third.

They include Access Bank, Fidelity Bank, Zenith Bank as well as First Bank (UK) Limited. Apart from being a member of the lending consortium, Glencore is also the off-taker of Neconde’s equity He also disclosed that "this restructuring frees up capital for Neconde to invest in more development.

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The management of Neconde Energy Limited, the Exploration and Production subsidiary of the Obijackson Group, said it is targeting 17,000 barrels per The NECONDE boss said that the before the pipelines vandalisation, the four wells which comprises of the oml 42 produce between 230,000 to.