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OML 13: NNPC signs five deals with partners, eyes $2.1bn investment | TheCable

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OML 130: NNPC signs five deals with partners, eyes $2.1bn investment | TheCable

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According to the national oil company, the deals align with the provisions of the Petroleum Industry Act of 2021. NNPC said five agreements were signed at a ceremony in Abuja on Thursday, presided over by Gabriel Aduda, permanent secretary, ministry of petroleum resources.The deals include a PSC between the national oil company and its contractors, CNOOC and SAPETRO, with TUPNI as the operator, according to a statement from NNPC.

Others are concession contracts for one petroleum prospecting licence and three petroleum mining leases ; and lease and license instruments between NNPC, TUPNI, SAPETRO, Prime 130, and NUPRC.NNPC said the milestone had paved the way to firm up the final investment decision on the, amounting to about $2.

 

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