West African Exploration and Production Company (WAEP), majority-owned by Aliko Dangote, has contracted three jack-up rigs to drill in Nigerian oil blocks OMLs 71 and 72, targeting over 1.6 billion barrels of oil. Drilling is set to begin in December, with plans to increase production and install gas monetisation infrastructure within 24 months. Managing Director Cecilia Ajayi announced this at the Africa Oil Week conference in Accra.
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