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Tag: OML 123

  • Buhari restores ownership of OML 123, others to NNPC

    Buhari restores ownership of OML 123, others to NNPC

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    by

    Bayo Millz
    in

    President Muhammadu Buhari has approved the restoration of the leases on OMLs 123, 124, 126 and 137 to the Nigeria National Petroleum Corporation (NNPC) which is in production sharing contract with Addax Petroleum. Addax Petroleum is wholly owned by Government of the People’s Republic of China. The leases belonging to the Federation were revoked on…