To offset field decline, infill drilling continued in 2019.Following the Nigerian Indigenization Decree of 1978, Chevron divested 40 percent of its shareholdings in Chevron Oil Nigeria PLC to the Nigerian public while retaining 60 percent equity.Chevron is one of the largest oil producers in Nigeria and one of its largest investors.Chevron also has extensive interests in multipartner deepwater operations. Foreign oil companies including Chevron, Royal Dutch Shell and Exxon Mobil have retreated in recent years from onshore and shallow-water production in Nigeria due to oil theft, selling assets mostly to local companies.“Over the years, CNL has received unsolicited expressions of interest from companies who are desirous of acquiring CNL’s interest in OMLs 86 and 88. Chevron, by every means, rates among the top companies in Nigeria. CNL fosters strong business partnerships with local service providers and product suppliers and works to increase their professional capabilities. Deep water Chevron has interests, ranging from 20 to 100 percent, in three operated and six nonoperated deepwater blocks in Nigeria. Chevron has a 67.3 percent interest in the field.In 2009, Chevron and its Agbami partners initiated the Medical and Engineering Professionals scholarship program. We operate the Agbami Field, one of Nigeria’s largest deepwater discoveries. More than 16,000 college students have benefited from the program. Chevron will be selling its 40 per cent stake in the businesses.OML 86 and 88 contain 55 million barrels of yet-to-be exploited oil barrels and 79.3 billion cubic metres (2.8 trillion cubic feet) of undeveloped gas reserves, the document said.The two businesses produce approximately 6,200 barrels of oil equivalent per day, according to the sale document.“Chevron Nigeria Limited (CNL), operator of the joint venture between the Nigerian National Petroleum Corporation and CNL, continuously evaluates its portfolio of assets in the country including Oil Mining Leases (OMLs) 86 and 88, as well as emerging opportunities in order to optimize its business,” spokesman Ray Fohr said in a statement.Vanguard Newspaper 29th July 2020The sale is also part of a broader retreat by international oil companies from Nigerian oil and gas fields that have been plagued by pipeline theft as well as uncertainty over the West African country’s tax regime.A UK man accused of raping and murdering his friend has told a jury he “accidentally killed her during sex”The search for the best people to assume important positions remains the first task of any national leader because on th...America’s 16th President left that observation carved in stone for prominent Nigerians who now must apologise publicly f...Chevron tried and failed to sell the two blocks in 2015 when global deal-making in oil and gas dropped sharply following a collapse in oil prices the previous year.United States-based energy corporation, Chevron has again put up for sale its stake in two Nigerian offshore oil and gas blocks, a sale document seen by Reuters News Agency showed, as the company seeks to dispose of aging assets to focus on its fast-growing production in the United States.We all die.
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