NNPCL Fires Eroton, Takes Over JV Operation Of OML18.

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Oil Mining Lease 18’s operator, Eroton Exploration and Production Ltd, has been fired by NNPC Limited, and its subsidiary, NNPC Eighteen Operating Limited, has taken over.

The adjustment, according to NNPCL, was required to save the assets since they were no longer producing 30,000 barrels per day.

Production has decreased from 30,000 barrels per day (bpd) to zero, according to information that is readily available, despite the compelling business arguments for the change in operatorship.

“The persisting inability of Eroton to meet the fiscal obligations of the Federal Government led to the sealing of Eroton’s head office in Lagos by the Federal Inland Revenue Service (FIRS) for more than twelve months due to non-payment of outstanding taxes,” reads the statement.

Vanguard

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