The Exxon Mobil Corporation on Thursday announced the discovery of over a billion barrels of crude oil on the Owowo field offshore Nigeria. This is a major discovery with potential recoverable resources of about 500million to one billion barrels of oil. The Owowo-3 well was spud on September 23 and encountered about 460 feet of oil-bearing sandstone reservoir.
The President of Exxon Mobil, Stephen Greenlee has said that the discovery is very encouraging and Exxon Mobil will work with the Nigerian government on further development plans.
Exxon Mobil holds 27 per cent interest and is the operator for OPL 223 and OML 139. Joint venture partners include Chevron Nigeria Deep-water G Limited (27 per cent interest), Total E&P Nigeria Limited (18 per cent interest), Nexen Petroleum Deep-water Nigeria Limited (18 per cent interest), and the Nigeria Petroleum Development Company Limited (10 per cent interest).
I hope this keeps Exxon Mobil in Nigeria and create more jobs for my people.
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