Nigeria’s Belemaoil Resumes Operations at Oil Mining Lease 55 After Three-Year Shutdown

Nigerian independent producer, Belemaoil Producing announced the resumption of operations at its Oil Mining Lease 55, which had been halted for three years due to facility damage caused by theft. CNBCAfrica indicates that the company acquired OML 55, situated approximately 40 km west of the Bonny oil export terminal in a swampy to shallow water area, from Chevron Corp in February 2015. Operations were suspended in 2021 due to rampant oil theft affecting the delivery line to the Bonny terminal, as stated by a Belemaoil spokesperson.