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CNOOC plans to invest another $3 billion in its existing oil and gas business in Nigeria

 Last Update: 2022-12-27
 Source: Internet
 Author: User

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On July 15, the National Oil Corporation of Nigeria (NNPC) said after meeting with the Chinese side in Abuja that China National Offshore Oil Corporation (CNOOC) is willing to invest $3 billion
in Nigeria's existing oil and gas business.

CNOOC plans to invest another $3 billion in its existing oil and gas business in Nigeria

During a visit to Nigeria's National Oil Corporation, CNOOC CEO Yuan Guangyu said the company had invested more than $14 billion in its Nigerian operations and expressed willingness to invest more
.

Yuan Guangyu pointed out that Nigeria is CNOOC's largest investment destination and asked Nigerian National Oil and CNOOC to seek common ground to improve productivity
.

Since last year, Nigeria has been negotiating
new financing agreements for joint ventures with major oil majors.
Financing agreements worth at least $780 million were signed with Chevron and Shell last year to boost crude oil production and reserves
.

Other Western oil companies, including ExxonMobil, operate operations
in Nigeria through a joint venture with Nigeria's National Petroleum.

，

CNOOC plans to invest another $3 billion in its existing oil and gas business in Nigeria

During a visit to Nigeria's National Oil Corporation, CNOOC CEO Yuan Guangyu said the company had invested more than $14 billion in its Nigerian operations and expressed willingness to invest more
.

CNOOC

Yuan Guangyu pointed out that Nigeria is CNOOC's largest investment destination and asked Nigerian National Oil and CNOOC to seek common ground to improve productivity
.

Other Western oil companies, including ExxonMobil, operate operations
in Nigeria through a joint venture with Nigeria's National Petroleum.

，

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