The Nigerian National Petroleum Company (NNPC) Limited (NNPCL) has said that no fewer than 36 oil blocks are under concession to international oil companies operating in Nigeria and their indigenous counterparts in the country.
This is according to latest data from the oil company.
Channels Television reports that an analysis of NNPCL’s latest Consolidated and Separate Financial Statements for the Period Ended December 31, 2022, showed that the eight blocks are located in deepwater, five blocks are continental shelf, fifteen blocks are on land, five blocks are located in swamp and another three blocks are located in partially swamp terrains.
The blocks, the report added, are classified into Oil Prospecting Licence (OPL), and Oil Mining Licence (OML).
An OPL is granted by the government to an applicant company registered for exploration and production purposes, while an OML is granted upon confirmation of potential for commercial production of petroleum from the licence.
The NNPCL’s financial statements outlined the blocks on concession to include OPLs 244, 242, 214, 223, 251 and 325.
For the Oil Mining Licences, they include OMLs 154, 139, 119, 60-63, 111, 148, 65, 26, 28 and 30.