Executives of Nigerian Agip Exploration  (NAE) led by its Managing Director, Mr.  Fabrizio Bolondi visited the Commission Chief Executive, Engr. Gbenga Komolafe to re-open discussions on Nigeria’s deep water oil block OPL 245 (Zabazaba Field) following the Federal Government’s initiative to ensure the oil-rich field is developed for the benefit of Nigerians.

Arrangements are underway to ensure  resolution of all legal actions in respect of the OPL and to pave way for a conclusion on the conversion process by converting the oil prospecting license to a mining lease for commercial oil development and production.

It is hoped that Zabazaba field alone will produce 150,000 barrels of oil per day to boost Nigeria’s oil production.