Bonga Floating Production Storage and Offloading vessel, Nigeria. The OML license for the block partners Shell, Total, Exxon Mobil and Eni were renewed for another 20 years. The Nigerian National Petroleum Corporation (NNPC) has signed a contract with its partners on oil mining lease OML 118 to expand the Bonga oilfield and unlock a $10 billion investment in the country’s deepwater resources. S&P Global Platts, which provides benchmark prices for commodity markets around the world, reported this on Wednesday. OML 118 contains Bonga, Nigeria’s first deepwater oil field which can produce 225,000 barrels per day of crude oil and 150 million standard cubic feet of gas per day. It said Shell had previously said it would develop the Bonga Southwest project across three phases with a total potential yield of 3.2 billion barrels. The report quoted NNPC as saying that the OML license for the block partners Shell, Total, […]