Nigeria's state oil company said on Jan. 13 it will partner with Schlumberger Ltd. on exploration and reservoir management.
The partnership aims to find commercial hydrocarbon deposits in the Chad Basin and other inland areas, a statement from the Nigerian National Petroleum Corp. (NNPC) said.
A research area for the companies will be "exploration and risk assessment studies of the Nigerian frontier basins, which include the Upper Benue where NNPC is currently carrying out exploration work," the statement quoted Babatunde Adeniran, COO of ventures at NNPC, as saying.
Schlumberger has established a $1 billion research fund, of which NNPC also hopes to take advantage, the statement said.
Permian oil production is expected to rise by 40,000 barrels per day to about 4.18 million barrels per day in April.
Spirit Energy has brought the Oda Field online in the Norwegian sector of the North Sea five months ahead of schedule and under budget.
Petrobras and partners have invested roughly US$30 billion in the exploration and development of the field.