SacOil acquires 20% interest in OPL 233

SacOil's Chief Executive Officer, Robin Vela28 August 2014, Sweetcrude, Lagos – SacOil Holdings Limited, a South African based independent African oil and gas company, has acquired 20 percent interest in Nigeria’s offshore Oil Prospecting License, OPL, 233.

OPL 233 is an offshore oil block located in the shallow marine area of the prolific Niger Delta region.

It encompasses an area of 126 square kilometres and is located in water depths ranging from three to 10 meters.

Dr Thabo Kgogo, chief executive officer of the company, said: “This award now moves us to the next phase of unlocking the resource potential and delivering production.”

The assignment was granted and authorised by the Nigerian National Petroleum Corporation.

It will be recalled that the African independent upstream oil and gas company and its joint venture partners have started operations for the acquisition of 3D seismic ocean bottom cable survey, with mobilisation of equipment for the survey completed.

Work is expected to start immediately thereafter, with completion scheduled for the end of October, SacOil added.

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