NNPC secures $3.15bn to develop oil mining licence

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Logo of the Nigerian National Petroleum Corporation (NNPC).

Nigeria’s state oil company has secured $3.15 billion from Sterling Oil Exploration and Energy Production Company Limited to develop oil mining licence 13, it said in a statement on Tuesday.

OML 13 is a wholly owned asset of NPDC, Nigerian Petroleum Development Company Ltd, one of the upstream subsidiaries of the Nigerian National Petroleum Corporation (NNPC).

Amaka E. Nliam