Nigeria: NNPC, Chevron Jv Seal $1.7bn Deal to Boost Crude Oil, Gas Output

20 November 2017

The Nigerian National Petroleum Corporation, NNPC and its joint venture partner, Chevron Nigeria Limited, CNL, at the weekend executed the second and final phase of an alternative financing agreement, which the Group Managing Director, Maikanti Baru, said would help increase the country's crude oil production by about 39,000 barrels per day.

Mr. Baru, who spoke in London at the formal signing of the agreement, said the arrangement would also help achieve "an incremental peak production of about 283 million standard cubic feet per day, MMSCFD of gas."

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