ExxonMobil uncovers an oil field with a capacity of one billion barrels

  • October 28, 2016

Exxonmobil announces a ‘significant discovery’ by locating an oil field at the Owowo offshore field located in the southern Bayelsa State.  The capacity of the oil find is between 500 million and 1 billion barrels of crude oil.

The Owowo-3 well was drilled by ExxonMobil affiliate Esso Exploration and Production Nigeria (Deepwater Ventures) Limited. It has a height of 10,410 feet (3,173 meters) and in water at 1,890 feet (576 meters).

The company’s statement said ‘‘ExxonMobil holds 27 percent interest and is the operator for OPL 223 and OML 139. Joint venture partners include Chevron Nigeria Deepwater G Limited (27 percent interest), Total E&P Nigeria Limited (18 percent interest), Nexen Petroleum Deepwater Nigeria Limited (18 percent interest), and the Nigeria Petroleum Development Company Limited (10 percent interest)”.

Militancy and pollution are the two issues which Nigeria’s oil rich Sudan has been struggling with.

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