Staying in Nigeria

February 22, 1999, 00:00 CET

A decision to remain active in Nigeria has been taken by Statoil after striking oil and gas in an offshore exploration well.

The deadline for reporting a continued commitment to the Nigerian authorities expired on 17 February. Statoil has intimated that it wishes to continue operations on blocks 218 and 217.

Oil and gas were recently encountered in the Nnwa-1 wildcat in block 218, and this well is regarded as promising.

Drilling from the Reading & Bates rig M G Hulme Jr began in early December and will soon be completed.

A discovery already made in the neighbouring block to 217 has also strengthened Statoil's interest in continuing its activities in the region.

Nnwa-1 is the group's seventh exploration well off Nigeria. It is being drilled in roughly 1,300 metres of water about 150 kilometres west of Port Harcourt.

Statoil's former interest in Nigerian block 210 has been sold to Allied Energy. a