(AFRICAN EXAMINER) – The Nigerian National Petroleum Corporation (NNPC) and its partners in the Oil Mining Lease (OML 130) Production Sharing Agreements (PSA) and Production Sharing Contract (PSC) are set to earn over $760m from fresh Gas Supply Purchase Agreements (GSPAs) and Gas Entitlement Agreement (GEA) executed Thursday at the NNPC Towers.
The agreements which are part of the Corporation’s gas commercialization programme involve Total Exploration and Production Nigeria (TEPNG), China National Offshore Oil Corporation (CNOOC), South Atlantic Petroleum Nigeria Limited (SAPETRO) and Prime 130 Limited.
The sale structure under which the agreements were executed is designed to provide a clear delineation for the allocation of the gas sale proceeds to all the participating parties, including midstream handling and transportation.
NNPC signs pact with Total, Sepetro on OML 130, to earn $760m in gas revenue
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NNPC, partners to earn over $760million revenue from OML 130 GSA
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OML 130 Gas Supply Agreements To Fetch NNPC, Partners Over $760m
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