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First Texas Energy Corporation Plans Major Exploration Project in Nigeria - First Texas Energy Corporations, a company based in the United States, has agreed to partner with local investors to explore oil in Anambra basin of Nigeria. The project will be funded by both local and foreign banks - FirstTexasEnergy.com
First Texas Energy Corporation Plans Major Exploration Project in Nigeria

 

NewswireToday - /newswire/ - Houston, TX, United States, 2009/08/27 - First Texas Energy Corporations, a company based in the United States, has agreed to partner with local investors to explore oil in Anambra basin of Nigeria. The project will be funded by both local and foreign banks - FirstTexasEnergy.com.

   
 
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First Texas Energy Corporations, a company based in the United States, plans a major exploration project in Nigerian heartland. The company is currently negotiating with local investors to explore oil in some villages around the Anambra basin, Nigeria. A statement issued by its Houston office said that the company has been meeting with traditional rulers of the host communities and state officials for the purpose of developing a peaceful working relationship and ensuring that the people are adequately protected from environmental hazards. The initial project will cost about $200 million and is to be funded by both local and foreign banks. The exploration activity is expected to boost industrial growth and employment opportunities in the region.

First Texas Energy Corporation (firsttexasenergy.com) will benefit from few other major petroleum activities currently taking place in the area. Construction for Nigeria's first private refinery, Orient Petroleum Refinery, began in 2006 at Nsugbe-Umuleri, Anambra East Council Area of Anambra State. The refinery with a projected capacity of 55,000 bpd is headed by the former secretary of the Common Wealth of Nations, Chief Emeka Anyaoku.

Anambra is a state in South-Eastern part of Nigeria with it's major route to the sea being the River Niger, which is currently undergoing dredging. The main purpose of the dredging exercise is to create a seaport, which will be critical for petroleum export and also serve the region's largest commercial city of Onitsha.

 
 
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Written by / Agency / Source: First Texas Energy

 
 

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First Texas Energy Corporation Plans Major Exploration Project in Nigeria

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Publisher Contact: Vivian Matthews - FirstTexasEnergy.com 
281-558-2233 info[.]firsttexasenergy.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any First Texas Energy securities in any jurisdiction including any other companies listed or named in this release.

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