The investment that has eluded the Nigerian oil and gas industry for years, thereby affecting crude oil production, may have started trickling– in again, as Chevron Nigeria Limited (“CNL”) and the Nigerian National Corporation NNPC joint venture have confirmed that $1.4 billion has been secured to finance some of their projects. This amount is to be used by the NNPC/CNL JV to fund infill drilling program or projects for the fiscal years 2023-2026 The financing arrangement was executed on Wednesday, November 30, 2022. The Project includes the drilling of 37…
Read MoreNNPC/CNL $1bn Deal Ups Oil Industry Investment’s Hope
