Nigeria’s Department of Petroleum Resources has revoked five oil mining leases and one oil prospecting license. It cited “noncompliance with statutory regulatory obligations” and said it was acting under a “presidential directive on recovery of legacy debts.”
It cited “noncompliance with statutory regulatory obligations” and said it was acting under a “presidential directive on recovery of legacy debts.”
Companies and licenses affected are Pan Ocean Oil Corp., OML 98 in the Niger Delta onshore; Allied Energy Resources Nigeria Ltd., OML 120 in the Niger Delta and OML 121 in the deep offshore; Express Petroleum & Gas Co. Ltd., OML 108 in the Niger Delta continental shelf; Cavendish Petroleum Nigeria Ltd., OML 110 in the Niger Delta continental shelf; and Summit Oil International, OPL 206 in the Anambra basin.
