Oil and Gas Major, Chevron Nigeria Limited, CNL Operator of the Nigerian National Petroleum Corporation/CNL Joint Venture (the NNPC/CNL JV) has confirmed that it signed a loan agreement, in conjunction with NNPC on September 17, 2015, for the sum of to $1.2 billion to fund a 36-well development program for the NNPC/CNL JV.
CNL commended the NNPC for recognizing the strategic imperative to supplement funding of the joint venture operations to enable high impact projects that can deliver near term production and bankable cash flow for the joint venture.
According to a statement by the General Manager, Policy, Government and Public Affairs, Chevron, Deji Haastrup, the company is in support of the Nigerian government’s objectives and is pleased to assist the administration succeed in its efforts to build a prosperous Nigeria.
Copyright: Fresh Angle International (www.freshangleng.com)
ISSN 2354 - 4104
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