Breaking: NNPC, Shell, Esso, Agip Sign PSC, DSA Addenda on $21bn Bonga South-West Aparo Project
*Asset inches towards FID, to become Nigeria’s largest deepwater devt *To unlock 175000bpd of oil, 140mmscfd of gas Peter Uzoho The Nigerian National Petroleum Company Limited (NNPCL) and its Contractor
The NNPC, Shell, Esso, and Agip have signed addenda to the Oil Mining Lease (OML 118) Production Sharing Contract (PSC) and Dispute Settlement Agreement (DSA) for the Bonga Southwest/Aparo project. This development brings the deepwater project closer to Final Investment Decision (FID), which could attract $15 billion to $21 billion in investment over its life.
The project is expected to produce around 175 kbopd of oil and 140 mmscfd of gas at peak levels. The execution of these addenda aligns with President Bola Ahmed Tinubu's reforms aimed at enhancing Nigeria's deepwater sector's competitiveness and attractiveness for large-scale investments.
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