ERHC Energy Inc (ERHE): Nigeria, Petrobras consider expanded rel...

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Tuesday, 08/04/2009 8:13:58 AM

Tuesday, August 04, 2009 8:13:58 AM

Nigeria, Petrobras consider expanded relations
8/3/2009 7:39:39 PM GMT

BRASILIA: During a meeting held on July 31 in Brasília, Nigerian President Umaru Musa Yar'Adua expressed interest in Petrobras' increasing its presence in Nigeria.

http://www.energycurrent.com/index.php?id=2&storyid=19789

Petrobras has been in Nigeria since 1998, where it currently operates OPL 315 under an exploratory process developed by that country's government. The company also has non-operated interests in the Agbami and Akpo fields. Petrobras has invested over US$2.5 billion in Nigeria.

Petrobras stated that the company "always considers the possibility of studying new businesses opportunities in countries where the oil and gas production perspectives are good."

The Nigerian government and Petrobras are expected to intensify reciprocal visits of executives to analyze possibilities of intensifying that country's exploratory program.