Production from oil mining lease (OML) 42 operated by Neconde Energy Limited, an indigenous oil and gas firm, has grown to a record output of 24,000 barrels per day (bpd) in July from 14,194 bpd in June.
The oil asset situated in the Niger Delta basin is a joint venture owned by Neconde and Nigerian Petroleum Development Company (NPDC), the exploration and production arm of the Nigerian National Petroleum Corporation (NNPC). Neconde took over the operatorship of the acreage in May.
OML 42 is also one of the oil blocks divested by Shell Petroleum Development Company Limited (SPDC) Joint venture.
