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Nevertheless, Nigerians regional content plan pursuant to the provisions of the Nigerian Essential oil Gas Business Content Advancement Action of 2010, which restricts the involvement of outsiders in the Nigeria oil and gasoline sector. There are usually also general problems any specific company looking to get an essential oil mining lease must comply with or fulfill before producing like an application.īy and large, the problems and various other required docs for processing an oil exploration in Nigeria lease include the followings.

The essential oil mining permit usually addresses 50 of the areas essential oil prospecting license has been recently granted for to thé licensee, where thé remaining 50 area shall be reverted back to the authorities unless it will be much less than 250 square km in area. Potential customer, explore, produce and engage in the advertising of the created essential oil in given acreages for a period of 20 years. The company acquired the adjacent 1.1 million acre M'Pola Block last year, for a total of 5.6 million acres in offshore Gabon holdings, and Marathon signed an exploration and PSC with Gabon for the Akoumba Marin Permit, some 636,000 acres approximately 30 miles offshore in the North Gabon Basin, where water depths range from 600 to more than 6000 ft.The licensee must be capable to produce a minimum amount of 10,000 clip or barrel per day of crude oil from the acreages or licensed area. It drilled two wildcats, however, one on its 1.2 million acre Chaillu Block and the other on its 3.3 million acre Meboun Block. Second is Occidental Petroleum, which operates five of Gabon's 12 deepwater blocks, but is only now drilling. It tested 1,604 b/d and is set to start up this year following the sinking of six wells.

Several companies have joined the deepwater search, foremost among them, Elf, which has found oil on its Apari Marine license at a 300 ft water depth just off Cap Lopez. Marathon-Santa Fe's discovery of the 4,545 b/d Tchatamba Marine Field in just 151 ft of water on Gabon's Kowe permit was the big news last year, but, as elsewhere in West Africa, the real interest these days is in the country's deepwater prospects.