Brazil will offer 172 oil blocks that span areas on land to deep-water regions in northeastern and southern Brazil under concession contracts. A total of 47 are at the Foz do Amazonas, where Petrobras is appealing to drill its first well after having its exploration campaign blocked in 2023. Brazil’s Mines and Energy Ministry says that basin could contain oil fields similar to those discovered in Suriname and Guyana, where Exxon Mobil Corp. found billions of barrels.
The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe has stated that the current oil block bid for 2024 is meant for investors with financial capacity and technical competence.
The Managing Director of Omiti Engineering, Nduka Nwosu has said that the new licensing round for 19 oil blocks will unlock opportunites for indigenous firms.
The MD said this at the launch of the bid round by the Minister of Petroleum Resources, Heineken Lokpobiri and Nigerina Upstream Petroleum Regulatory Commission’s Chief Executive, Gbenga Komolafe.
UK-based Challenger Energy finalized the contract for its second offshore block in Uruguay on Monday, as hopes of oil and natural gas production in the South American country grow.
President Bola Tinubu has ordered the Attorney-General of the Federation, Lateef Fagbemi (SAN), Minister of State for Petroleum Resources, Heineken Lokpobiri, and other agencies of government to clear all court cases around the $1.3bn deepwater OPL 245 oil block located in southern Niger Delta.