NAOC, an affiliate of Italian corporation, Eni has made significant gas and condensates discovery onshore in the Niger Delta through its joint venture with NNPC and Oando.

The find amounts to around 1 trillion cubic feet of gas and 60 million barrels of associated condensate, with further potential to be assessed with the next appraisal campaign, and the well will be immediately put on stream to increase their gas production, Eni said.

Oando Plc, Eni, Fraud, SEC

NAOC JV is a joint venture between the Nigerian Agip Oil Company (an affiliate of Eni), which holds 20% and acts as operator; Nigerian National Petroleum Corp. (NNPC) which holds 60% and Nigeria’s Oando PLC, which owns the remaining 20%.

The discovery was made in the deeper sequences of the Obiafu-Obrikom fields in OML61.

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