The Federal Government has urged the international oil company Eni to accelerate the Final Investment Decisions for the $20 billion Zabazaba and Bonga Southwest oil projects.
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, made the appeal during a meeting with Eni management in Abuja on Wednesday. Discussions focused on the key steps needed to secure the investment decisions and opportunities for collaboration with local and international partners.
According to the ministry, the projects are expected to add 150,000 barrels of oil per day to Nigeria’s production capacity. Mr Lokpobiri reaffirmed the government’s commitment to supporting the projects and said Nigerians should begin to benefit from the economic opportunities they are expected to create.
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The government recently approved Eni’s field development plan for the deepwater assets following the resolution of the long-running OPL 245 legal dispute. The development will use a Floating Production, Storage and Offloading vessel with a processing capacity of 150,000 barrels of oil per day, while the Bonga Southwest project is expected to attract significant foreign direct investment.
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