GEC Petroleum spreads Nigeria wings with Aje purchase

摘要

GEC Petroleum Development has finalised a US $18m deal to buy out MX Oil from its Aje field off Nigeria as the firm seeks to deepen its interest in the gas sector while acquiring fast-track production. MX Oil only acquired its interest in the Yinka Folawiyo field in OML113 in the middle of last year in return for shares and funding Jacka Resources' cash calls on the development.