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Thursday, April 06, 2006 7:06:10 PM
By Upstream staff
THE Joint Development Authority managing the Gulf of Guinea joint development zone between Nigeria and Sao Tome has indicated that all signature bonuses payable for production-sharing licences signed last month will be due by 14 April and that drilling on blocks 2, 3 and 4 should start before the end of the year, writes Barry Morgan.
Also, indications of a "possible billion-barrel find" in its debut wildcat on Block 1 by operator Chevron were cautiously backed by Nigerian Minister of State for Petroleum Resources Edmund Daukoru in Abuja this week.
"Possibly more than 1 billion and more than originally thought Obo-1 is not a disappointment though I am waiting to hear the final result," he said.
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06 April 2006 23:01 GMT | last updated: 06 April 2006 23:01 GMT
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