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Sub-Saharan Africa upstream month in brief: 4 November 2016

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ExxonMobil announces giant deepwater find in Nigeria. Owowo 3 encountered 140 metres of oil bearing sandstone reservoir. The operator has estimated recoverable reserves at 500 million 1 billion barrels. The field straddles OML 139 and OPL 223 (which have aligned partner interests and PSC terms) and an initial development could involve a subsea tie back to nearby Usan on OML 138 which ExxonMobil also operates.

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