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Vol 54 No 19

Published 20th September 2013

Total loss

Hopes of oil wealth seem to be in ruins now that oil company Total has decided to abandon Block 1 of the Joint Development Zone (JDZ) with Nigeria. France’s Total took over Chevron’s operating stake in the block in 2010 and Project Director François le Cocq soon announced it would invest US$200 million to drill two new wells, Obo-2 and Enitimi-1. That raised expectations of the country’s first oil by 2015.

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