MRS Holding Provided $300m to NNPC for Chevron Assets – Bloomberg Report.
According to a Bloomberg report, Sayyu Dantata, a member of one of the richest families in Nigeria, funded the Nigerian National Petroleum Company Limited’s (NNPC) acquisition of oil blocks from Chevron Corporation, providing a window into how the company might support its ambitious expansion plans.
The NNPC received $300 million from a subsidiary of MRS Holdings Ltd to purchase two shallow-water licenses that Chevron was selling, according to the news source, which cited the state-owned company’s most recent financial reports.
According to Ajiya, Bestaf received a $300 million loan from Afreximbank to pay for the asset purchase by NNPC. In order to support the firm’s commercialization of the gas deposits in OML 86 and 88 under an agreement with the NNPC, Afreximbank and a Bestaf company signed a memorandum of understanding for $1 billion last year.
