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NNPC signs OML 118 Agreement to Unlock $10bn Investment with Shell, ExxonMobil, Total

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Bala Augie
Bala Augiehttps://moneycentral.com.ng
Bala is the Editor of MoneyCentral Media. Bala is a Fellow (FCA) of the Institute of Chartered Accountants in Nigeria (ICAN) and holds a Bsc in Accounting from the University of Abuja. Bala has over 12 years’ experience in the financial journalism landscape with specialization in the Insurance, markets and Finance sectors.
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The Nigerian National Petroleum Corporation (NNPC) has signed the execution of Oil Mining Lease (OML) 118 (Bonga) between it and contractor parties.

The parties include Shell Nigeria, Exxon Mobil, Total Nigeria, among other,

“This marks a watershed in the administration of Deepwater operations in Nigeria. Over $10 billion of investment will be unlocked as a result of this development,” NNPC said.

Details Later…

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