ExxonMobil Nigeria Renews OMLs Leases For A 20–Year Period
We are pleased to announce the renewals of our OMLs 133 (Erha) and 138 (Usan) deepwater leases for a further 20–year period. This includes extensions of Production Sharing Contracts with our partner NNPC Limited
These renewals validate @ExxonMobil_NG earlier commitment to maintain a significant deepwater presence in Nigeria, via Esso Exploration and Production Nigeria (Deepwater) Limited.
These are among the first post Petroleum Industry Act deepwater lease renewals, and we applaud the @FMPRng Ministry of Petroleum Resources, the @NUPRCNigeria and @nnpclimited for providing the focused leadership and partnership that has led to this achievement.
Further, these extensions enable us and our partners to unlock the potential value in these OMLs and to bring forward additional investment.