The Nigerian National Petroleum Company Limited and its partners have signed agreements to advance the proposed $21bn Bonga Southwest/Aparo deepwater project towards a Final Investment Decision.
Located in OML 118, the project is expected to produce up to 175,000 barrels of oil per day and 140 million standard cubic feet of gas daily at peak production.
The latest agreements give effect to new fiscal and commercial terms approved by the Federal Government, as Nigeria seeks to attract major investments into its deepwater oil and gas sector.
The project partners have also completed the Pre-Front End Engineering Design phase, paving the way for the next stage of development.
