National Economy
Sunday, August 24, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home States & Politics

Nigeria Pulls Additional 2,500bpd Oil From Dawes Island Field

by Chika Izuora
1 month ago
in States & Politics
Reading Time: 1 min read
Nigeria Pulls Additional 2,500bpd Oil From Dawes Island Field
Share on FacebookShare on TwitterShare on Telegram

You May Like

FG To Provide 500 Housing Units In Each State

Abia Gets $125m Islamic Bank Loan

The federal government is expecting to add about 2,500 barrels per day (bpd) to its production capacity following drilling activities at the Dawes Island field by African exploration and production company Petralon Energy.
The company has completed a new well at the field, which is situated in Petroleum Prospecting License (PPL) 259.
The company invested $25 million in the drilling program and development initiatives between 2014 and 2022, securing a 100 per cent stake in PPL 259 following the implementation of Nigeria’s Petroleum Industry Act in 2021.
The production milestone highlights the instrumental role indigenous operators play in Nigeria, with future drilling activities set to further consolidate Petralon’s position in the country’s upstream sector.
Beyond PPL 259 and the Dawes Island field, Petralon is pursuing non-operated interests in Oil Mining License (OML) 127 and OML 130, seeking to unlock new resources and enhance revenue generation.
The company owns a stake in Prime Oil & Gas, which holds an 8 per cent interest in OML 127 and a 16 per cent stake in OML 130.
Petralon has also strengthened its ownership stakes across the African upstream industry, holding an indirect equity interest in Prime Oil & Gas, which recently finalised its merger with Africa Oil Corp.
The expanded entity now operates a strong portfolio that includes deepwater assets in Nigeria, ventures in Namibia, South Africa, and Equatorial Guinea.
“By connecting global financiers and operators with African partners, the event positions collaboration at the forefront of investment and development. As a Platinum Partner, Petralon underscores its vision to expand its upstream portfolio of operated and non-operated assets, while engaging with potential partners to unlock greater value from the continent’s oil and gas resources,” says NJ Ayuk, Executive Chairman, African Energy Chamber.

Tags: 500bpd Oil From Dawes Island FieldNigeria Pulls Additional 2
ShareTweetShare
Previous Post

Akpabio Removes Natasha As Chair Of Senate Diaspora Committee

Next Post

Wema Bank To Empower Women With N2m Grant

ANOTHER GOOD READ

FG To Provide 500 Housing Units In Each State
States & Politics

FG To Provide 500 Housing Units In Each State

6 days ago
Abia Gets $125m Islamic Bank Loan
States & Politics

Abia Gets $125m Islamic Bank Loan

6 days ago
CISLAC Demands Local Govt Autonomy, Stronger Traditional Institutions
States & Politics

CISLAC Demands Local Govt Autonomy, Stronger Traditional Institutions

6 days ago
ACF, Partners Allocate €10m For Cross-border Livestock Development
States & Politics

ACF, Partners Allocate €10m For Cross-border Livestock Development

2 weeks ago
FCTA Begins Procurement Process For Waste Collection In Satellite Towns
States & Politics

FCTA Begins Procurement Process For Waste Collection In Satellite Towns

2 weeks ago
ADC Tells APC To Remove Tinubu 2027 Posters, Cites Electoral Act Violations
States & Politics

ADC Tells APC To Remove Tinubu 2027 Posters, Cites Electoral Act Violations

2 weeks ago
Next Post
Wema Bank To Empower Women With N2m Grant

Wema Bank To Empower Women With N2m Grant

Most Recent

Tackling The Rising Rent Crisis In Abuja: A Focus On Affordability And Sustainable Solutions

Tackling The Rising Rent Crisis In Abuja: A Focus On Affordability And Sustainable Solutions

August 22, 2025
PCN Seals 486 Pharmacies, Patent Medicine Stores In Niger

PCN Seals 486 Pharmacies, Patent Medicine Stores In Niger

August 22, 2025
Federal Gov’t Approves ₦142bn For Bus Terminals In 6 Geopolitical Zones

Federal, State, Local Govts Share Record N2.001trn As July Allocations

August 22, 2025
Visa: ‘It’s Tit-for-Tat’, Nigeria To Demand Social Media Disclosure From American Applicants

US Suspends Work Visas For Nigerian Truck Drivers, Others

August 22, 2025
Tourism: Gov Eno Orders Demolition Of Illegal Structures For New Projects

Hardship: Akwa Ibom Gov Lifts 476 Less-privileged With N239m Grants

August 22, 2025
Boat Mishaps: Jamoh Advocates Standard On Inland Water Ways Usage

Boat Mishap: Response Team Confirms 4 Deaths, 41 Rescued

August 22, 2025
Land Transport Policy Will Ensure Road Safety

Land Transport Policy Will Ensure Road Safety

August 21, 2025
FCT Minister Flags Off Karu Water Project, Vows Completion By June 2026

FCT Minister Flags Off Karu Water Project, Vows Completion By June 2026

August 21, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy