Lagos — A few days ago, the Joint Development Authority (JDA) released the winners of latest licensing round of oil blocs in the Joint Development (Economic) Zone (JDZ) owned by Nigeria and Sao Tome and Principe, on behalf of the two countries.
The JDA administers the economic zone in the Gulf of Guinea, said to be very rich in oil deposits. At the end of the exercise, many Nigerian companies were successful in the various consortia that won the blocs. The boldness of Nigeria companies to venture into the more challenging deep-sea exploration and drilling appears to suggest that Nigeria may have learnt a great lesson from its mistakes with its on-shore oil.
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