SINOPEC HAS STRUCK oil in its first exploration well drilled in Nigerias Block 137, previously owned by Canadian oil giant, Addax Petroleum.
p align="left" style="margin-bottom: 0cm;">SINOPEC HAS STRUCK oil in its first exploration well drilled in Nigerias Block 137, previously owned by Canadian oil giant, Addax Petroleum.
According to Reuters, the Udele-3 well of Block 137, in the Niger Delta, was the first exploration well Sinopec drilled in Nigeria this year after its acquisition of Swiss oil and gas explorer Addax almost a year ago. The report quoted China Petrochemical News, Sinopec's in-house newspaper, as saying that the well intercepted an oil column of 45.9 ms and flowed 3365 barrels of oil and 28,300 cu m of gas per day during test. Last June, Sinopec set out to acquire Addax for $7.24 bn to gain access to oil assets in West Africa and Iraq.
