Africa Oil (TSE:AOI) has released an update.
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Africa Oil Corp. has successfully renewed its Petroleum Mining Lease 52 in Nigeria for 20 years, securing its long-term production outlook. The Agbami field, part of this lease, is operated by Chevron and has been a significant producer since 2008. This renewal strengthens Africa Oil’s position in deepwater Nigeria, with significant partnerships and production capabilities.
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