Deepwaterafrica News

 

Nigeria to Auction New Offshore Oil Blocks

Feb 13, 2024

Nigeria will this year open bids for new offshore oil blocks, the second such auction in two years, the head of its petroleum regulator said on Tuesday, as Africa's biggest oil producer seeks to draw more investment into deepwater projects.Nigeria has struggled to increase its oil output, largely due to crude theft and sabotage of onshore pipelines, forcing oil majors like Shell and Exxon to sell onshore assets…

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