SIX YEARS AFTER, GOVT RENEWS CHEVRON’S LICENCE FOR 20 YEARS

Exactly six years after the operating licence for Chevron’s Oil Mining Leases (OMLs) 83, 85, 88, 89, 90, 91 and 95 expired in December 2008, after 40 years of issuance, the federal government has renewed the licence for these seven leases for another 20 years.

Chevron Nigeria Limited operates these seven acreages and five others – OMLs 49, 51, 52, 53 and 55, under a joint venture with the Nigerian National Petroleum Corporation (NNPC), with Chevron having 40 per cent interest, while the national oil company holds 60 per cent.

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