Continental Focus, International Reach

Nigerian Firm Takes ROC Field

Wednesday, June 12, 2019

Nigerian indigenous firm Pelfaco has signed a production sharing deal with the Republic of Congo (ROC) for access to a 32-million-barrel oil field, according to the ROC’s Ministry of Oil.

Pelfaco is run by Gesi Asamaowei, a little-known businessman from Nigeria’s oil producing Niger Delta region.

The ROC Ministry said in a statement that the field in the south of the country would last for 25 years. It gave no further details.