New PSC fires up Bonga SW

摘要

NIGERIA'S government has signed a fresh production sharing contract with Shell, ExxonMobil, Total and Eni that is set to finally unlock the $10 billion Bonga South West-Aparo project after more than 15 years of delays. An agreement for a new 20-year PSC covering oil mining licence 118 was signed this week at the Abuja head office of state-owned Nigerian National Petroleum Corporation (NNPC). NNPC said the deal "marks a watershed in the administration of deep-water operations in Nigeria", pointing out that "over $10 billion of investment will be unlocked as a result of this development".