Petroleum Africa
Find us on: 
Tuesday, May 12, 2015
Eland Oil & Gas’ JV company, Elcrest Exploration and Production Nigeria Ltd., received confirmation from Nigeria’s Department of Petroleum Resources (DPR) that it has fulfilled its obligations, including the payment of the requisite premium and fees of $2.3 million to the DPR, in relation to Elcrest’s appointment as operator of OML 40 for a minimum 10-year period.
The Ministry of Petroleum Resources has in turn advised NNPC to proceed with the finalization of the Joint Operator Model Agreement with Elcrest, which has been approved by the Minister of Petroleum Resources. The Joint Operating Model Agreement has been fully drafted and is currently under review by all parties. Signing of the agreement is expected in the coming weeks.
George Maxwell, CEO of Eland Oil & Gas commented,“We are delighted to have received consent from the Ministry of Petroleum Resources for Elcrest’s appointment as operator of OML 40. It only remains to complete a revised joint operating agreement between Elcrest and NPDC when a further announcement will be made.”
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
