Nigerian Noa rises further as COP closes on appraisal funds

摘要

Canadian Overseas Petroleum (COP) is edging closer towards survival and helping the appraisal of the Noa field off Nigeria. Its ShoreCan joint venture bought out OPL 226 in 2015 from Essar. The block contains the shallow water Noa discovery where recoverable reserves are currently put at 20m bbl. COP has failed to raise funds to push the project since but recently agreed to transfer the majority of the block back to Essar in return for a carry on the first appraisal well.