NNPC SECURES $1.2BN ALTERNATIVE FUNDING FOR 36 JV OIL WELLS

The Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that it had secured a $1.2 billion multi-year crude oil drilling financing package to enable it drill 36 offshore and onshore oil wells under the NNPC/Chevron Nigeria Limited Joint Venture arrangement.

NNPC, in a statement from its Group General Manager Public Affairs, Ohi Alegbe, in Abuja, described the development as a landmark deal designed to supplement the federal government’s cash call commitment to its various joint venture operations

 

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