PAPIS Energy Solutions Nigeria Limited Acquires 35% of Block 1 Nigeria-Sâo Tomé & Principé Joint Development Zone.

Previously operated by Chevron and most recently by Total E&P. The challenge of Block 1 has never been in its prospectivity as exploration and appraisal campaigns have proved up at least 60MMBbls from two fields south of Egina and Akpo in Nigeria’s prolific OML130.

In 1700m water depth and with the only off-block development options for synergies lying approximately 23km North of location, PAPIS Energy Solutions and it Partners Equator and Dangote Energy Equity Resources, aim to take advantage of the lessons learnt from previous development plans and new technological approaches designed specifically for exploiting ‘stranded reserves’ such as been proven within Obo and Enitimi fields on Block 1 JDZ.