OML 113 Renewed for Yinka

Wednesday, August 29, 2018

MX Oil reported that Yinka Folawiyo Petroleum, operator of Nigeria’s OML 113 received the consent from the Minister of Petroleum for the renewal of the license.The renewal is for another term of 20 years.

The renewal is subject to the satisfaction of certain conditions, including a commitment to develop the gas potential of the license.

OML 113 is located in the extreme western part of offshore Nigeria adjacent to the Benin border. The license contains the Aje field. The partners are: Yinka Folawiyo Petroleum (operator), New Age, Energy Equity Resources, Panoro Energy and MX Oil

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