Nigeria’s oil sector has received a major boost as American oil major, ExxonMobil Corporation yesterday revealed discovery of significant oil with a potential recoverable resource of between 500 million and 1 billion barrels of oil on the Owowo field offshore Nigeria.

The Owowo-3 well, which was spud on September 23, encountered about 460 feet (140 meters) of oil-bearing sandstone reservoir.

Owowo-3 extends the resource discovered by the Owowo-2 well, which encountered about 515 feet (157 meters) of oil-bearing sandstone reservoir.

“We are encouraged by the results and will work with our partners and the government on future development plans,” said Stephen M. Greenlee, president of ExxonMobil Exploration Company.

Owowo-3 was safely drilled to 10,410 feet (3,173 meters) in 1,890 feet (576 meters) of water. The Owowo field spans portions of the contract areas of Oil Prospecting License 223 (OPL 223) and Oil Mining License 139 (OML 139).

The well was drilled by ExxonMobil affiliate, Esso Exploration and Production Nigeria (Deepwater Ventures) Limited and proved additional resource in deeper reservoirs.

ExxonMobil holds 27 per cent interest and is the operator for OPL 223 and OML 139. Joint venture partners include Chevron Nigeria Deepwater G Limited (27 per cent interest), Total E&P Nigeria Limited (18 per cent interest), Nexen Petroleum Deepwater Nigeria Limited (18 per cent interest), and the Nigeria Petroleum Development Company Limited (10 per cent interest).
Meanwhile, the Nigerian National Petroleum Corporation (NNPC) yetserday said it has entered into a working agreement with the Nigeria Police Force (NPF) to tackle the incessant attacks on oil and gas facilities across the country.

Both agencies were said to have made the commitment on Wednesday when the group managing director of NNPC, Dr Maikanti Baru, visited the inspector general of police, Mr Ibrahim Idris, at the force headquarters in Abuja.

A press statement signed by the group general manager, group public affairs division, NNPC, Garba Deen Muhammed, said Baru drew the attention of the police to the growing insecurity around oil and gas facilities with the latest being the attack on the Chevron gas pipeline in Delta State.

The GMD explained that the attacks on oil and gas facilities were taking a toll on the national budget with massive shortfalls in revenue as well as huge losses in petroleum products.



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www.leadership.ng/business/556366/exxonmobil-announces-major-oil-discovery-offshore-nigeria

Please where is owowo located in Nigeria?

where is this owowo located @op

donbenedict:
Please where is owowo located in Nigeria?

Koloama community in bayelsa

Owowo should be in Bayelsa state. The Zoo's diversification into oil is in full swing.

It's our Oyel

Omololu007:
where is this owowo located @op

donbenedict:
Please where is owowo located in Nigeria?

sambisa

rusher14:
Deep offshore no community can lay claim.

Won't stop the usual suspects from bellyaching over this...

I laugh for belle when they rant and rave about how oil is no longer a big deal.. Really? Oil is a dud & the west stay destabilising the middle east/OPEC countries/anything energy related in order to control /force the price /ensure prices stay down?

Oyinbo and their lie lie alternatives have not found a solution to oil & gas dependency but they keep sustaining their campaign of lie & deceit which some are foolish enough to align with...





P.S... I know some will trawl the interweb for points to discredit this assertion, I welcome it, just keep it civil & sensible/verifiable, don't just pull crap outta ya asses, like Germany & Switzerland being landlocked and devoid of mineral deposits.

Switzerland has more than a quarter of the funds of numerous countries domiciled with them (illicit and untraceable mostly), they have no choice but to thrive, as for Germany, their machines will run on water nah.

Good n bad news at the same time . . .
Good news because it means more resources, money, and jobs.
Bad news because it connotes more dependence on petrodollar.

Happy birthday to me jare

Sibrah:
Good n bad news at the same time . . .

Good news all the way... I nor dey lie to masef, we don't have any other thing going for us presently.. I'm a firm believer of taking care of the here and now, if you are not alright today, how do you have the mental strength and resilience to be alive for tomorrow?


To diversify needs gazillions of cash which we have no access to at the moment and time to develop which is almost 20+yrs too late...

For goodness sakes, we don't even have stable power supply, how are we then supposed to leap start the race to full economic independence in 10yrs (give or take)?

WiLdFLame:

Koloama community in bayelsa

thank you very much..

Ok; next?

Good for them

Check my signature

Bayelsa is blessed


Let the president relocate everyone there to a new found land and makes it look like Paris then let the exploration starts ... With Bayelsa and Akwa Ibom we can beat Dubai

another curse has been discovered

The Oil well belong to we Igbos. Bayelsa state is no mans land

nanauju:
Happy birthday to me jare

HBD...GOD'S GRACE

Ok

At the end,the common man won't feel the effect.

modath:


Good news all the way... I nor dey lie to masef, we don't have any other thing going for us presently.. I'm a firm believer of taking care of the here and now, if you are not alright today, how do you have the mental strength and resilience to be alive for tomorrow?


To diversify needs gazillions of cash which we have no access to at the moment and time to develop which is almost 20+yrs too late...

For goodness sakes, we don't even have stable power supply, how are we then supposed to leap start the race to full economic dependence in 10yrs (give or take)?

You are a wise man indeed!

Good

...........Taaar......All those that has been discovered far back has not been helping....don't divert our attention as we have chosen farming as our major occupation.....radarada

In bayelsa not in bauchi or gombe buhari go be lyk and avengers go be like

More money more problems

More oil more militants

[size=20pt]This is the real Oyel... And not the media oyel in Lagos and South Wa.ste [/size]

Modified: The partiality in this forum eh...

So our sweet word south Was.te av been automatically turned to west..

Oga Admin.. Kindly modify words like flat heads
Flattinos iPod etc... 5% from the east

modath:


Good news all the way... I nor dey lie to masef, we don't have any other thing going for us presently.. I'm a firm believer of taking care of the here and now, if you are not alright today, how do you have the mental strength and resilience to be alive for tomorrow?


To diversify needs gazillions of cash which we have no access to at the moment and time to develop which is almost 20+yrs too late...

For goodness sakes, we don't even have stable power supply, how are we then supposed to leap start the race to full economic dependence in 10yrs (give or take)?

Oro lo so awe

study geology, una no gree, shatout to all sequence stratigraphists all ova the world.

martineinstein:
another curse has been discovered

I WAS HOPING THEY WOULDN'T FIND ANY CRUDE AGAIN.

is owowo in Bauchi or katsina?

CliffordOrji:
The Oil well belong to we Igbos. Bayelsa state is no mans land

Affonjazzy is that you?