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.
