local content initiative

Indigenous E&P company set 90,000bpd record oil production

Indigenous E&P company set 90,000bpd record oil production

The local content initiative of the Federal Government appears to be yielding results as an indigenous company, Aiteo Eastern Exploration and Production Limited has achieved a record 90,000 barrels per day (bpd) oil production, just one year after its acquisition of oil mining lease, OML, 29, known to be sub-Saharan Africa’s largest onshore oil block.