Nigeria's NNPC takes step to ending Oil Mining Lease 130 dispute

Published 06/08/2020, 21:42
Updated 06/08/2020, 21:48
© Reuters.
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LAGOS, Aug 6 (Reuters) - The Nigeria National Petroleum
Corporation, China's CNOOC Ltd 0083.HK and South Atlantic
Petroleum signed a preliminary agreement to resolve a dispute
over Oil Mining Lease 130, the West African state oil firm said
on Thursday.
NNPC said on its official Twitter account that it signed a
Heads of Terms (a non-binding broad outline of a deal) with the
Chinese and Nigerian firms that seeks to address disagreements
over the mining lease's production sharing contract.
It did not provide details of the dispute nor the new
proposed terms.
Oil Mining Lease 130 contains fields including Akpo and
Egina.


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