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NNPC Settles Dispute Between Sapetro, CNOOC Over OML 130

The Nigerian National Petroleum Corporation (NNPC) has signed a preliminary agreement to end the dispute with two energy firms, China’s CNOOC Ltd. and Lagos-based South Atlantic Petroleum Co. The NNPC did not however give details of the deal.

The deal Orient Energy Review learnt was signed to settle all disputes regarding the OML 130 Production Sharing Contract.

The national oil corporation said by the signing deal, it is intervening in all disputes relating oil exports involving oil majors on revenue from several offshore oil fields.

In a twitter last weekend, NNPC confirmed the signing of a deal with the firms to “settle disagreements over the production-sharing contract signed on Oil Mining Lease 130.

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Source: OrientEnergyReview

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