Tuesday, January 31, 2023
Home OIL & GAS NNPC, four oil firms renew deal on five blocks 

NNPC, four oil firms renew deal on five blocks 

.To unlock over $500bn in revenue for the country

In a major step towards boosting Nigeria’s crude production and unlocking investments in the deepwater space post Petroleum Industry Act (PIA) enactment,@nnpclimited & its Production Sharing Contracts (PSCs) Contractors have resolved their disputes and signed renewed PSCs.

NNPC PLC Limited in a series of tweets on Friday said the signing ceremony took place in Abuja headquarters office.

“During a signing ceremony held today at the #NNPCTowers in Abuja, the parties renewed their agreements in five Oil Mining Leases (OMLs 128, 130,132, 133, and 138), a development that is expected to unlock over $500 billion in revenue for the country”

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