Tuesday February 24, 04:11 PM
Nigeria signs $1.69 bln funding deal with Shell
ABUJA, Feb 24 (Reuters) - Nigeria's state oil company NNPC on Tuesday signed a $1.69 billion funding agreement with Royal Dutch Shell (Amsterdam: RDSA.AS - news) to cover its share of investment in the Gbaran Ubie integrated oil and gas project.
'What we are signing today is the modified carry agreement for the Shell (LSE: RDSB.L - news) /NNPC Gbaran Ubie project. NNPC's share is $1.69 billion and that is what we have come here to sign,' NNPC Managing Director Mohammed Barkindo said before the signing.
He said the deal brought to three the number of carry agreements signed with Shell, worth a total $2.4 billion, to cover NNPC's share of joint venture project funding from 2007 to 2012.
(For full Reuters Africa coverage and to have your say on the top issues, visit: http://af.reuters.com/ )
(Reporting by Camillus Eboh; Writing by Nick Tattersall) Keywords: NIGERIA SHELL/FUNDING
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
