LAGOS, Nigeria (CU)_The Nigerian National Petroleum Corporation has renewed the OML for the block partners of the Bonga Oilfield, Shell, Total, Eni and Exxonmobil, according to benchmark price assessment provider, S&P Global Platts. Along with the renewal of the license, the NNPC is also said to have signed a contract with the oil industry giants on an oil mining lease OML 118, in order to expand the Bonga oilfield and also to unlock a $10 billion investment in the deep-water resources of the African nation. Several other agreements were also signed between the parties, including those on settlements of a tax dispute.
The Bonga oil field, located more than 100km southeast of the Niger Delta, is Nigeria’s first deep-water oil field. It has the capacity of producing 225,000 barrels crude oil and 150 million standard cubic feet of gas per day.
NNPC’s group managing director Mele Kyari noted that an investment of over…
