On 29 November 2019, industry sources reported that Chevron Nigeria Ltd (CNL) launched the sale of its 40% operating interest in shallow water blocks OML 86 and OML 88. The US company had to put on hold such a divestment program in 2015 during the oil industry downturn. Both permits are contiguous, located in southwestern Niger Delta, where water depths barely exceed 20 m.   "Over the years, CNL has received unsolicited expressions of interest from companies who are desirous of acquiring CNL's interest in OMLs 86 and 88" said a spokesman from the US Major company.  Block OML 86 produced less than 5,900 bo/d during the first half of 2019, from two fields. More than 500 MMbbl of oil has been produced to date from this tract, while 55 MMbo are remaining. The major producing field in this tract (Apoi North â Funiwa) is connected to the Pennington Terminal through a 20 km submerged pipeline.  Block OML 88 is the host of the Pennington and Middleton oil fields, which both produced almost all their recoverable reserves (50 and 35 MMbbl of oil) since the early 1970s. They have been shut in in 2014 and 2003 respectively. Five gas and condensate discoveries are also present in the block.
Nigeria, OML 86