Nigeria, E/ Guinea sign gas supply agreement (08/12/06)
 

Nigeria and Equatorial Guinea yesterday signed the Heads of Agreement (HoA) on a deal that would enable the Nigerian National Petroleum Corporation (NNPC) supply about 600-800m standard cubic feet per day of gas to the African neighbour as well as the right to operate two oil blocks in the country.
 
 
Under the agreement which was signed by the Group Managing Director of NNPC, Engr. Funsho Kupolokun on behalf of the corporation and the Equatorial Guinea's Minister of Mines, Industry and Energy, Mr. Atanasio Ela Ntugu is for the supply of 600-800m standard cubic Feet of liquefied natural gas per day to that country's EGLNG train 2.

 

Speaking at the signing ceremony, Kupolokun said the corporation would source the gas from NNPC-Mobil joint venture fields to meet the obligation stipulated in the deal which is subject to commercial viability.

He said the second aspect of the agreement entailed the allocation of two oil blocks to NNPC in the Equatorial Guinea open acreage.

"Equatorial Guinea has agreed to allocate two blocks, A12 and B12 to NNPC for which NNPC would be the contractor", he said, adding that the corporation is also pushing for another block in the country's next Licensing Round.

Source: AllAfrica

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