…as NNPC, OML 118 contractor parties execute PSC, DSA Addenda
The Nigerian government expects to unlock at least $21 billion in fresh investment in the petroleum sector, as Nigerian National Petroleum Company Limited (NNPC Ltd) and its deepwater joint venture partners including Shell, Esso, and Agip executed long-awaited commercial agreements for the advancement of the deepwater Bonga Southwest/Aparo project (BWSAp) towards Final Investment Decision (FID).
The agreement which was signed on monday, gives effect to the fiscal and commercial terms approved by the Federal Government to support the development of BSWAp and it reinforces Nigeria’s commitment to creating a competitive, stable and attractive environment for large-scale deepwater investment.
Speaking on the deal, Bashir Ojulari, Group Chief Executive Officer of NNPC Ltd, said that the execution of the BSWAp PSC and DSA Addenda demonstrates the effectiveness of President Tinubu’s reforms in translating policy into investment.
According to him, the partnership
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