OML 118: NNPC signs deep-water agreement to unlock $10bn investments

OML 118

OML 118: NNPC signs deep-water agreement to unlock $10bn investments     The Nigerian National Petroleum Corporation (NNPC) and its Production Sharing Contract partners have executed five agreements to renew Oil Mining Lease 118 (OML 118) for another 20 years. The agreements has the potential to unlock fresh investments valued above $10 billion. NNPC outlined the partners as Shell Nigeria Exploration and Production Company, Total Exploration and Production Nigeria Limited, Esso Exploration and Production Nigeria Limited and Nigerian Agip Exploration. The five agreements signed were the Dispute Settlement Agreement, Settlement…

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