China to invest $3 bln in Nigeria: NNPC

Nigeria

ABUJA, July 16, 2018 – China National Offshore Oil Corporation (CNOOC) is ready to invest USD 3 billion in its Nigerian operations, the Nigerian National Petroleum Corporation (NNPC) said in a press release Sunday.

CNOOC CEO Yuan Guangyu said the company had invested USD 14 billion in Nigeria and that the country remained its largest investment destination.

CNOOC holds 45% of shares in the OML130 offshore block, located 150 kilometres off the coast of Nigeria and consisting of four oilfields: Akpo, Egina, Egina South and Preowei.

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