Nigeria's state oil company said on Jan. 13 it will partner with Schlumberger Ltd. on exploration and reservoir management.
The partnership aims to find commercial hydrocarbon deposits in the Chad Basin and other inland areas, a statement from the Nigerian National Petroleum Corp. (NNPC) said.
A research area for the companies will be "exploration and risk assessment studies of the Nigerian frontier basins, which include the Upper Benue where NNPC is currently carrying out exploration work," the statement quoted Babatunde Adeniran, COO of ventures at NNPC, as saying.
Schlumberger has established a $1 billion research fund, of which NNPC also hopes to take advantage, the statement said.
Recommended Reading
Supply Disruptions Ahead as Canadian Rail Workers Vote for Strike
2024-05-01 - The union, representing more than 9,000 employees at Canadian National Railway and Canadian Pacific Kansas City, announced that 95% of its members approved of a strike, which could happen as early as May 22.
OGInterview: Building EIV Capital’s Midstream Investment Strategy
2024-05-01 - Midstream-focused EIV Capital has added non-operated assets and transition projects to its portfolio as a sign of the times.
NOG Lenders Expand Revolving Credit Facility to $1.5B
2024-04-30 - Northern Oil and Gas’ semi-annual borrowing-base redetermination left its reserved-based lending unchanged at $1.8 billion.
Imperial Oil Names Exxon’s Gomez-Smith as Upstream Senior VP
2024-04-30 - Cheryl Gomez-Smith, currently director of safety and risk at Exxon Mobil’s global operations and sustainability business, will join Imperial Oil in May.
Mike Howard Joins Atlas Energy Solutions’ Board
2024-02-15 - Mike Howard brings more than 28 years of midstream energy experience to Atlas Energy Solutions’ board of directors.