The Joint Finance Team of the Nigerian National oil Corporation (NNPC) and its venture partners, Chevron African country restricted, have clenched the celebrated Thomson Reuters/PFI Magazine ‘Africa and Near East Oil Deal of the Year Award 2015.’
The NNPC, in an exceedingly statement signed by the cluster top dog, cluster Public Affairs Division, Ohi Alegbe, and created accessible to the Nigerian apsis on weekday, aforesaid that the award was in recognition of the novel $1.2 billion multi-year drilling funding package for thirty six offshore/onshore oil wells underneath the NNPC/CNL venture initiated underneath the Accelerated upstream funding programme dead at a signing-ceremony in London in Sept, 2015.
The initiative was designed by the NNPC to handle the perennial challenge veteran by the centralized in providing its counter-part funding of junior varsity upstream activities.
Codenamed Project Acinonyx jubatus, the $1.2 billion various funding package, was the primary to mix funding of each drilling in addition as domestic gas to support power generation in African country from a opus of rigorously sequenced offshore and onshore wells.
The deal was projected to fund thirty six wells and deliver forty one, 000 barrels of rock oil per day and projected peak progressive production of 127 million commonplace cube-shaped feet of gas per day (mmscfd) within the years ahead.
“The package is projected to come up with between $2-5bn of progressive revenues to the Nigerian government over the lifetime of the project (subject to prevailing oil worth within the forthcoming years).
“The funding package is being supported by a pool of Nigerian and International lenders LED by commonplace chartered Bank and UBA,” the statement declared.
The global award that is one amongst the foremost prestigious within the International funding market is predicated on feedback from peers and market operators with full endorsement by the judges at Thomson Reuters /PFI.
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