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Transcorp, NNPC Sign Production Sharing Contract for OPL 281

1st May, 2014

hexgear

Transnational Corporation of Nigeria (Transcorp) and the Nigerian National Petroleum Corporation (NNPC) signed a production sharing contract (PSC) last Friday for the exploration and production of Oil Prospecting Lease (OPL) 281.

Under the terms of the PSC, Transcorp has committed itself to a work programme to prove and develop an estimated 104 million barrels of oil reserves, an additional 335 million barrels of probable reserves, and approximately four trillion cubic feet (tcf) of natural gas reserves.

Asset: OPL 281 Source: http://www.thisdaylive.com/art...

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