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Updated Thursday, February 4, 2010 11:20 am TWN, AP

Nigeria: Oil field auction may be up to 2 bil. barrels

LAGOS, Nigeria -- The chief oil adviser to Nigeria's president says the West African nation will offer an auction later this year on oil fields that may have up to 2 billion barrels. Adviser Emmanuel Egbogah says the auction will include both land and offshore oil fields for companies. Egbogah says he expects China to be among those vying for the fields. He says some of the fields up for auction may be those already relinquished by oil companies operating in Nigeria.

Nigeria used to be Africa's No. 1 crude oil producer, but violence in the Niger Delta knocked the nation off that pedestal. The Financial Times first reported the potential auction Tuesday.

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