Chevron OML's licences renew for 20 years

                          

The Federal Government of Nigeria has renew the licences of chevron  Oil Mining Leases for 20 years,ThisDay learnt that the licences for OML 83,85,88,89,90,91,95 expired in 2008 which is 6 year  after 40 year of issuance.

Chevron Nigeria Limited have operated these 7 oil wells  and 5 additional wells OML,49,51,52,53,and 55 in joint venture with NNPC ,Nigeria National Petroleum corporation with NNPC having 60% and Chevron 40%
It was learnt that Chevron applied for the renewal of the licence 2006, two years earlier before expiration,but it is unclear why the Government delayed the approval for 6 years,and why the approval was keep from public eyes.before the approval, Chevron have started sale of it's 40% investment on five of the 12 acreage.