CNOOC Willing to Invest More in Nigeria

Monday, July 16, 2018

China National Offshore Oil Corp (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, according to NNPC after a meeting with the Chinese in Abuja.

During a visit to Nigeria’s state-owned NNPC, CNOOC Chief Executive Yuan Guangyu said the company had invested more than $14 billion in its Nigerian operations and expressed readiness to invest more, according to a Reuters report.

The CNOOC chief said that the West African country was the company’s largest investment destination and also asked the NNPC to seek common grounds with CNOOC for enhanced productivity.

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