Nnpc signs mou with savannah petroleum for oil exploration #
It appears that the Nigerian National Petroleum Corporation (NNPC) has signed a Memorandum of Understanding (MoU) with Savannah Petroleum, a UK-based oil and gas company, for oil exploration in Nigeria.
Here are some key points about the MoU:
- Exploration of oil and gas resources: The MoU aims to explore for oil and gas resources in Nigeria, with a focus on the Kolmani River Basin in the Benue State.
- Savannah Petroleum's involvement: Savannah Petroleum will be responsible for the exploration and production of oil and gas in the designated areas, while NNPC will provide technical and logistical support.
- NNPC's role: As the national oil company, NNPC will ensure that the exploration and production activities are carried out in accordance with Nigerian laws and regulations.
- Potential benefits: The MoU is expected to generate revenue for the Nigerian government and create jobs for Nigerians.
- Kolmani River Basin: The Kolmani River Basin is a significant geological area with potential for oil and gas discoveries. The basin is located in the Benue State, which is known for its rich oil and gas deposits.
Overall, the MoU between NNPC and Savannah Petroleum is a significant development in Nigeria's oil and gas sector, as it aims to increase the country's oil and gas production and revenue.