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igeria, Oil giants sign US $1billion joint oil, gas venture

    ABIDJAN

    The Nigerian National Petroleum Corporation (NNPC) signed on Thursday a US $1 billion agreement with Shell, Agip and Elf to develop an oil and gas field with an estimated reserve of 350 million barrels, state owned Nigerian Television Authority reported in Thursday. The deal was signed Production is due to begin the second half of the Year 2002. When fully developed, the field will will produce at least 100,000 barrels of oil per day and supply up to 100 million standard cubic feet of gas daily.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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