Bonga Partners Deal to Unlock over $10b Investment

Source: www.gulfoilandgas.com 5/26/2021, Location: Africa

The Nigerian National Petroleum Corporation (NNPC) has signed an agreement with partners in the OML118 license, the home of the Bonga field located offshore Nigeria, which will unlock over $10 billion in investments.

The partners are Shell, ExxonMobil, Total, and Eni. Shell Nigeria Exploration and Production Company (SNEPCo) has 55 interest and is the operator, ExxonMobil has 20 per cent, Total holds 12.5 per cent, and Eni’s Nigerian Agip Exploration Limited has the remaining 12.5 per cent under a production sharing contract with the NNPC.


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