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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