NNPC, IOCs Undertake Audit of Nigeria’s Joint Venture Assets

NNPC, IOCs Undertake Audit of Nigeria’s Joint Venture Assets
August 18, 2016 Advocaat Law Practice

The Nigerian National Petroleum Corporation (NNPC) said that it has commenced the audit of Nigeria’s joint venture (JV) assets in collaboration with the international oil companies (IOCs), with a view to determining the current real value of the assets.

The corporation also stated that its ongoing review of the Production Sharing Contracts (PSCs) would soon be concluded to help the country negotiate favourable PSC terms afterwards