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

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The NPDC’s increase from 60,000 bpd to 140,000 bpd during the divestment process was achieved by exercising operatorship rights on all divested blocks other than Seplat’s, rather than by boosting production. More Momentum. In one of the largest deals in sub-Saharan Africa in 2014.

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Neconde Energy Limited and its Joint Venture Partner – the National Petroleum Development Company (NPDC) in Oil Mining Lease (OML) 42 have commenced production and delivery of gas to the domestic market through the Nigeria Gas Marketing Company. The move was in fulfilment of the.

Neconde ceo frank edozie told Reuters the company bought a stake in OML 42 from Shell in April "It was producing and lifting crude although the asset had, by deed of transfer, moved to Neconde. Edozie said crude production at the oilfield stood at around 80,000 barrels per day (bpd) and it.

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The Management of Neconde Energy Limited, a member of the Obijackson Group and operator of the Oil Mining Lease, OML 42, has raised the alarm over Mr. edozie alerted the public on plans by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) to picket the company.

Elcrest, Neconde, win operatorship; npdc staff push Back Just as the NPDC branch of the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) was pushing back on the Nigerian Government’s granting of operatorship of the Oil Mining Lease(OML) 42 to Neconde.

Natural Gas Policies. Neconde Surges Past 29,000BOPD. Nigerian independent, Neconde Energy, averaged 29,1000Barrels of Oil Per Day (BOPD) gross OML 42 is held in joint venture between Neconde (45%) and .the state hydrocarbon firm NPDC (55%), the operating arm of the putative giant.