The Nigerian National Petroleum Corporation (NNPC) Limited has taken over the oil mining lease OML 18 from the former operator, Eroton Exploration and Production Ltd. NNPC Eighteen Operating Limited, a subsidiary of NNPC Limited, will now operate the oil field.
The change which was announced by Garba Muhammad, NNPC spokesperson, in a statement, was aimed at curtailing further degradation of the asset and revamping the production of oil and gas.
Eroton became NNPC’s partner in the OML18 JV and was designated as the Operator in 2014, but has been unable to execute the crude Oil Evacuation Process. NNPC explained that in the two years, the oilfield has not been producing.