Pan Ocean Nigeria Ltd. started in 1973 and is the operator of OML98 which is a Joint Venture with the Nigeria National Petroleum Company (NNPC). As a Joint Venture (JV) partner, the NNPC has 60 percent working interest in OML-98 while Pan Ocean has 40 percent.
As part of its strategic growth initiative, Pan Ocean acquired and signed a Production Sharing Contract (PSC) with the NNPC on OML 147 (previously OPL 275). Pan Ocean has developed and completed the 130MMSCF/D Ovade-Ogharefe natural gas processing plant in Edo State
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