OML 18: NNPCL And Its JV Partner Fire Operator Eroton

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Oil Mining Lease 18 now has NNPC Eighteen Operating Limited as its operator in place of Eroton Exploration and Production Limited, which was previously chosen by the non-operating joint venture partners.

It claimed that Eroton’s continued inability to satisfy its financial responsibilities to the Federal Government caused the Federal Internal Revenue Service to seal Eroton’s head office in Lagos for more than a year as a result of the company’s failure to pay back taxes owed to the government.

OML 18 is an oil-producing block with an area of 1,035 square kilometers that is south of Port Harcourt. It has 11 oil and gas fields and has roughly 714 million Stock Tank Barrels of oil and condensate reserves as well as 4.7 trillion cubic feet of natural gas reserves, according to NNPCL.

Notwithstanding the JV partners’ steady compliance with the joint venture’s payment commitments during the same period, OML 18’s net crude oil output substantially decreased from over 30,000 bpd to nil production from 2016 to the present “Said NNPCL.

“Eroton said around two weeks ago that it will continue to run the OML 18 Alakiri Gas Plant and Field Logistics Depot in the Niger Delta.

Punch

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