The Oil Mining Lease OML 11, novated to the Nigerian Petroleum Development Company NPDC by the parent company Nigerian National Petroleum Corporation (NNPC), is considered the largest asset, in value terms, in the portfolio of NPDC, in the opinion of several members of the company’s management.
“It has over 11 flowstations and the Ogoni Bodo field is largely untapped, NPDC managers say.
The export terminal for the crude is at Bonny, although Shell didn’t agree that the terminal is part of the OML 11 asset. At $3.5Billion, the value of investment committed to, in the Finance and Technical Service Agreement (FTSA) is the highest of the three FTSAs….Click here to read full article
