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Friday, 28 October 2016

ExxonMobil discovers one billion barrels of oil in Niger Delta

The oil giant, ExxonMobil, says it has discovered up to a-billion barrels of oil in an offshore field in Owowo filed, Niger Delta.


The oil major said it was “a significant discovery with a potential recoverable resource of between 500 million and one billion barrels.”

It said the Owowo-3 well, which was drilled on September 23, encountered about 460 feet (140 metres) of f oil-bearing sandstone reservoir.

Owowo-3 extended the resource discovered by the Owowo-2 well, which encountered about 515 feet (157 metres) of oil-bearing sandstone reservoir, ExxonMobil said in a statement on its website.


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