The Nigerian Petroleum Development Company (NPDC), the Exploration and Production arm of the NNPC and Shoreline Energy International in partnership with Heritage UK have taken ownership of OML 30.
The block formerly belonged to SHEL (30%), TOTAL (10%),NAOC (5%).
The three partners have now divested their 45 per cent interest in the block and NPDC is now the operator of the block with the assigning of NNPC’s interest of 55 per cent to it.
The Group Managing Director of the NNPC, Engineer Andrew Yakubu as well as the Managing Director of the NPDC, Engineer Victor Briggs endorsed the deal on behalf of the NPDC, while the chairman of Shoreline Mr. Kola Karim signed the deal on behalf of his company.
Speaking at the signing ceremony, Engineer Yakubu said SHELL, TOTAL, NAOC and NNPC worked together to ensure the divestment process comes to fruition without any hitch.
According to him, NPDC has the necessary resources and will work closely with Shoreline to give quality services to the venture in the interest of both partners.
NPDC Managing Director said with the assigning of NNPC’s 55 per cent interest in the block to NPDC, the company is on track to boost the current 45, 000 barrels monthly production level of the block to 60, 000 barrels by the end of next year.
Commenting, the Chairman of Shoreline expressed confidence that his company and NPDC would work together as a team to develop the block successfully.
``We will support the growth and development of NPDC within the shortest possible time, now that we have tied the knot ’’, Mr. Karim stated.
SHELL, TOTAL and NAOC have previously divested their 45 per cent interest in OML 4, OML 38, and OML 41 and 42.