Nigeria said it will start work on a block which was handed over to national development firm NPDC, with another five theoretically to follow. OML 98 was taken from Pan Ocean Oil in the middle of last year, one of six rescinded due to inactivity and "legacy debts". The list also includes Allied Energy's OMLs 120 and 121. The pair were sold on to affiliated firm Erin Energy which went into bankruptcy when the oil price slumped as it drilled extra wells on the producing Oyo field on OML 120.
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