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Lekoil Taking Action Over Offshore Nigeria Lease

Lekoil is still waiting for confirmation of Nigeria’s government concerning a farm-in to the offshore OPL 310 lease in the Dahomey basin.
According to a report by Offshore, on Feb. 1, 2013, Mayfair Assets and Trust Ltd., a subsidiary of the company, acquired a 17.14percent stake from Afren and a 30percent economic interest, with the Minister for Petroleum Resources granting consent last June.
Despite progressing exploration and appraisal activities on the lease, Lekoil says it has not received a satisfactory explanation of why the consent has not come through, the report added.
As a result, the company has decided to apply to the Federal High Court for a declaration that should speed up the consent process, and preserve the license’s unexpired tenure.
OPL 310 contains the potentially large Ogo field discovery.

Source: Offshore

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