Natural gas stock

Neconde, NPDC start gas output from OML 42

LAGOS, November 6, 2018 – Neconde Energy and Nigerian Petroleum Development Company have started natural gas production from OML 42, local media reported Monday.


The gas is being sold on the domestic market through the Nigeria Gas Marketing Company, The Guardian reported.

“The fact that a wholly indigenous joint venture has progressively revived this asset speaks to the capacity of indigenous companies in the oil and gas sector if given the right opportunities,” Nestoil group managing director and Neconde chairman Ernest Azudialu-Obiejesi said in a company statement.

Nestoil operates the asset through its 80% stake in Neconde Energy.

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