Gas Utilisation Agreements News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Emmanuel Addeh in Abuja and Peter Uzoho
The Nigerian National Petroleum Corporation (NNPC) yesterday stated that, along with its partners, the national oil company was set to earn over $760m from various fresh agreements on gas supply.
The deals on the Oil Mining Lease (OML) 130 included a Production Sharing Agreement (PSA), Production Sharing Contract (PSC), Gas Supply Purchase Agreements (GSPAs) and Gas Entitlement Agreement (GEA).
The agreements which are part of the corporation’s gas commercialisation programme involve Total Exploration and Production Nigeria (TEPNG), China National Offshore Oil Corporation (CNOOC), South Atlantic Petroleum Nigeria Limited (SAPETRO) and Prime 130 Limited.
The sale structure under which the agreements were executed is designed to provide a clear delineation for the allocation of the gas sale proceeds to all the participating parties, including midstream handling and transportation. ....

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