Chevron’s Nigerian unit and the Nigerian National Petroleum Corp. (NNPC) have signed the second and final phase of a $1.7-billion alternative financing agreement for a joint project in Nigeria that is expected to boost the country’s crude oil production by 39,000 bpd in the long term, NNPC said on Sunday.
The project is planned to produce natural gas liquids and condensate extracted from the Sonam and Okan fields located in OML 90 and 91 in the Niger Delta. Under the deal, the parties will also complete the Sonam non-associated gas well platform; drill seven wells in the Sonam field and the Okan 30E NAG well; and complete a pipeline and Okan pig receiver platform and development of the associated facilities.