The Blackwood Group has optioned a number of Oil Block Concessions in Nigeria and is currently selecting Major Oil Companies that will act as Technical Partners of the Project. Partnerships relating to each Concession are currently subject to separate negotiations. We are structuring proper financial solutions for funding the purchase and development of Oil Blocks in partnership with a Primary Bank as Arranger that will set up and syndicate appropriate funding sources.
The Blackwood Group signed a Memorandum of Understanding with Oilworld to acquire 60% majority stake in OPL 241 Oil concession. OPL 241 is located in the shallow waters of the Niger Delta Basin, Nigeria. The total concession area is 1,182 sqkm. Estimated Oil & Gas Reserves are in the range of 1,8 billion barrels plus probable reserve in excess of 400 million barrels.
The Blackwood Group signed a Memorandum Of Understanding with Northsouth Petroleum to acquire 60% majority interest in the Oil concession OPL 326 located in the Western Deep offshore Niger-Delta, Nigeria. Oil & Gas Reserves are currently under evaluation. OPL 326 is located in the southern limit of Petrobras OPL 324 and south-west of Chevron OPL 249.
The Project is comprised of the engineering, procurement, construction and operation of a Gas to Liquid plant with an initial daily capacity of 10,000 barrels of liquid petroleum products expandable up to 56,000 bpsd (while taking in a total up to 448,000 standard cubic feet of Natural Gas, whether Associated or non Associated). Total investment is valued at USD 2bln.
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