Africa Oil Corp bullish on Nigeria growth, Namibia long game
Africa Oil will increase to full ownership its shareholding in Dutch entity Prime Oil & Gas Coöperatief, whose main assets include indirect stakes in deep-water producing Nigerian fields operated by TotalEnergies and Chevron. "On closing of that deal we will significantly change the scale of our business, we will double production, we double reserves and significantly boost our liquidity position," Oliver Quinn, chief commercial officer at Africa Oil told Reuters. Once the deal is complete, Africa Oil expects to produce around 35,000 barrels per day, he said.