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Gazprom Signed Deal With NNDC

Gazprom signed an agreement with Nigerian state oil firm NNDC

Gazprom signed a memorandum of understanding with the New Nigeria Development Company, a venture owned by Nigeria's 19 northern states, to study two oil blocks in the Chad Basin and one in Benue Trough.

According to the agreement, the Russian company is expected to analyze three oil blocks in northern Nigeria for possible exploration.

The deal is one of many ventures that Gazprom plans to pursue in Africa's largest oil and gas producer.

«Gazprom is fairly new in Nigeria, but we've been having discussions with them for nearly a year. They have a good track record," said Frederick Durlong, NNDC's executive director for business development.

Gazprom was one of 15 companies picked by Nigeria's government this month to be core investors in the exploration and production of its gas reserves, the world's seventh-largest.

Author: Ksenia Kochneva

Source : The Moscow Times