By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: NNPC Wins Reuters 2015 Oil Deal Award.
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

NNPC Wins Reuters 2015 Oil Deal Award.

Damilola A.
By Damilola A.
Published: January 14, 2016
Share
2 Min Read
SHARE

NNPC_Logo-e14356179597271111-1

The Nigerian National Petroleum Corporation (NNPC) has bagged the Thompson Reuters 2015 Oil deal award.

This is contained in a statement signed by Mr Ohi Alegbe,Group General Manager,Group Public Affairs Division, on Wednesday in Abuja.

It said that the Joint Finance Team of the NNPC and its Joint Venture Partners, Chevron Nigeria Limited clinched the prestigious award.

- Advertisement -

It name the awards as Thomson Reuters /PFI Magazine “Africa and Middle East Oil Deal of the Year Award 2015’’.

It stated that the award was in recognition of the novel 1.2 bn dollar multi-year drilling financing package for 36 Offshore/Onshore Oil wells under the NNPC/CNL Joint Venture.

This, it said, was initiated under the Accelerated Upstream Financing Programme executed at a signing ceremony in London in September, 2015.

It added that the initiative was designed by the NNPC to address the perennial challenge experienced by the Federal Government in providing its counter-part funding of Joint Venture upstream activities.

- Advertisement -

“Codenamed Project Cheetah, the 1.2bn dollar alternative financing package, was the first to combine funding of both oil production as well as domestic gas to support power generation in Nigeria from a medley of carefully sequenced offshore and onshore wells.

“The deal is projected to fund 36 wells and deliver 41, 000 barrels of crude oil per day and projected peak incremental production of 127 million standard cubic feet of gas per day (mmscfd) in the years ahead,” it said .

It noted that the package was projected to generate between two billion dollars to five billion dollars of incremental revenues to the Nigerian government over the life of the project (subject to prevailing oil price in the upcoming years).

It said that the funding package was being financed by a consortium of Nigerian and International lenders led by Standard Chartered Bank and UBA.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByDamilola A.
Entertainment News Reporter
Follow:
Damilola is a dedicated entertainment writer for Okay Nigeria (Okay.ng). He joined the platform with the aim of using his experience in the Entertainment industry to share wonderful articles in this field. Dammy is a die-hard fan of Wizkid.
Previous Article FIFA Bans Real Madrid and Atletico Madrid From Signing Players
Next Article YABATECH To Establish Radio Station & Mortgage Bank

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Okay.ng Logo

Parallel Market Rates

USD
Buy₦1,550.00
Sell₦1,560.00
GBP
Buy₦2,130.00
Sell₦2,170.00
EUR
Buy₦1,750.00
Sell₦1,790.00

Updated: 23 hours ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

0.00
ShareShareShare

Rates are for informational purposes only.

Okay.ng Logo Parallel Market Rates
USD
Buy
Sell
GBP
Buy
Sell
EUR
Buy
Sell
| okay.ng
- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Tensions Mount in Senate as Senator Natasha Set to Make Controversial Return
News
ADC Accuses Presidency of Undermining Opposition Amidst Coalition Turmoil
Politics Top stories
Flood Devastation in Ondo Communities Sparks Urgent Calls for Government Intervention
News
Security and Electoral Bodies Confirm Full Preparedness for Upcoming Anambra Elections
News
Ruth Kadiri
Ruth Kadiri Reveals Why She Keeps Her Marriage Private
Celebrities
- Advertisement -
Ad imageAd image

You May Also Like

International

Trump Rages at Elon Musk’s ‘America Party’, Calls Move a “Train Wreck”

Damilola A.
Damilola A.
July 7, 2025
NewsSecurity

Anambra Police Intensify Crackdown on Cult Activities Amid Security Concerns

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 7, 2025

Babiana Trending Video: What You Should Know

Okay.ng
Okay.ng
July 7, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?