Nigeria: SacOil, EER in NNPC agreement

South Africa’s SacOil and Nigeria’s Energy Equity Resources on 22 April announced a memorandum of understanding with Nigerian National Petroleum Corporation (NNPC) to explore oil and gas opportunities in Nigeria, plus a 12-month term contract for the purchase of Nigerian crude.The two companies have established a joint venture called SacOil Energy Equity Resources Limited (SEER), which is the contracting party to the agreement for the sale and purchase of Nigerian crude with NNPC.