The Federal Government has puportedly reached an outline settlement worth $5 billion with five International Oil Companies (IOCs) to cover outstanding payments for NNPC’s share joint exploration and production. The IOCs include Royal Dutch Shell, Exxon Mobil, Italys ENI, Chevron and Frances Total . The payments will be made in the form of new oil production, as well as a one-off cash payment. The agreement which is set to be finalized by the end of the year, covers the period from 2010 to 2015.
0 Likes
