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Sunday, August 6, 2017
Nigeria’s NNPC and the Nigerian units of Chevron and Shell signed alternative financing deals for projects in the country. The projects are expected to boost Nigeria’s petroleum reserves, improve the country’s power supply, and aid in bringing natural gas flaring to an end.
The alternative financing of the Sonam Project (Project Falcon) was signed in London, NNPC said on Twitter.
The project, a JV between Chevron Nigeria Limited (CNL) and NNPC is expected to deliver 283Mmcf/d to the domestic gas market and produce a total of 30,000 barrels of liquids per day.
First production at the Chevron operated project is expected later this year.
“Signing on behalf of NNPC was the GMD Dr. Maikanti K Baru, while Jefferey Ewing (MD/Chairman CNL) signed on behalf of his company,” the tweet read.
“The Sonam Project is expected to develop incremental proven oil reserves of 211mmbbls and proven gas reserves of 1.9Tcf within OMLs 90 & 91,” NNPC said.
In addition to the alternative financing agreement with Chevron, NNPC signed one with Shell for the Santolina project. The deal with Shell unit SPDC, is for “an accelerated upstream production comprising of 156 development activities across 12 OMLs and 30 fields in the Niger Delta.”
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