MRS SubsidIary’s $300m Purchase Of Chevron Oil Block From NNPC Allows For The Supply Of 8,000 Crude Oil Barrels Per Day In Five Years.

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Nigerian National Petroleum Company Limited (NNPCL) will supply 8,000 barrels of crude per day for four to five years using the $300 million that was used to purchase oil blocks from Chevron Corp.

According to Ajiya, Bestaf received a $300 million loan from Afreximbank to pay for the asset purchase by NNPC.

NNPCL’s most recent financial statements states a division of MRS Holdings Ltd Bestaf provided the $300 million to purchase two shallow-water licenses that Chevron was selling.

The deal was finalized in May, and the financing is backed by crude from fields that are currently producing within  NNPC’s portfolio, it said.

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