The Nigerian National Petroleum Company Limited (NNPC Ltd) and partners in OML 118 have signed key agreements to advance the Bonga Southwest/Aparo (BSWAp) deepwater project towards Final Investment Decision (FID).
The project is expected to attract between $15 billion and $21 billion in investment over its lifetime and reach peak production of about 175,000 barrels of crude oil per day, alongside an estimated 140 million standard cubic feet of gas daily.
The OML 118 partners include Shell Nigeria Exploration and Production Company, ExxonMobil’s Esso Exploration and Production Nigeria (Deepwater), and Nigerian Agip Exploration. The agreements give effect to approved fiscal and commercial terms and clear the way for further development work ahead of FID.
NNPC said the project could increase Nigeria’s oil and gas output, government revenue and foreign-exchange earnings while creating opportunities for local contractors, suppliers and service companies.
Daily Times
