The Federal Government of Nigeria (FG), Shell and Nigerian Agip Exploration Limited (NAE) are set to sign the Final Investment Decision (FID) for the $13.5 billion Zabazaba deepwater project located in Oil Prospecting Lease (OPL) 245 which has about 9 billion barrels of crude oil and is believed to be the largest oil block in Africa. Agip and Shell Nigeria Exploration and Production Company have already signed the production sharing agreement at the ratio of 50:50, with NAE as the operator.
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