36 Oil blocks under concession to International Oil companies—NNPC

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Latest data from the Nigerian National Petroleum Company (NNPC) Limited showed that no fewer than 36 oil blocks are under concession to international oil companies operating in Nigeria and their indigenous counterparts in the country.

According to NNPCL’s most recent Consolidated and Separate Financial Statements for the Period Ended December 31, 2022, eight blocks are in deepwater, five blocks are on the continental shelf, fifteen blocks are on land, five blocks are in swamps, and three more are in partially swamp terrains.

The blocks are divided into two categories: Oil Prospecting Licence (OPL) and Oil Mining Licence (OML).

An OPL is granted by the government to an applicant company registered for exploration and production purposes, while an OML is granted upon confirmation of potential for commercial production of petroleum from the licence.

The national oil company’s financial statements outlined the blocks on concession to include OPLs 244, 242, 214, 223, 251 and 325.

For the Oil Mining Licences, they include OMLs 154, 139, 119, 60-63, 111, 148, 65, 26, 28 and 30.