Mohammed Shosanya
The Nigerian National Petroleum Company Limited (NNPCL) has entered into agreements for the renewal of the Oil Mining Lease (OML) 13 Agreements with five energy companies.
The companies include: China National Offshore Oil Corp (CNOOC), South Atlantic Petroleum (SAPETRO), Total Upstream Nigeria Limited (TUPNI), PRIME 130 and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC),according to a statement on Thursday.
The company explained that the agreements involved are Production Sharing Contracts, Heads of Agreement (HoA) Amendment, Settlement Repayment Agreement, Concession Contracts for 1 PPL and 3 PMLs, and Lease & License Instruments.
It added that the development provides ground to firm up final investment decision on the Preowei amounting to $ 2.1bn, subsequently to be followed by Egina South projects lined up by TUPNI and the OML 130 partners to introduce additional volumes to the best-in-class Egina Floating, Production, Storage and Offloading (FPSO) Vessel.
