Lagos - Following the final completion of the acquisition of ConocoPhilips' assets in Nigeria, Oando is set to become Nigeria’s second largest indigenous oil producing firm after Seplat Petroleum, reports Daily Independent.
With the acquisition, the company now has the ability to produce 50 000 barrels of crude oil per day from six producing fields.
The ConocoPhilips deal, which worth is about $1.79billion, is the biggest acquisition by an indigenous company in the history of Nigeria’s oil and gas industry.
Read more at Daily Independent.
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