The African nation will offer first right of refusal to China National Petroleum
China and Nigeria stroke a deal on four oil drilling licences for China, which, in its turn, will invest $4bn in oil and infrastructure projects in Nigeria.
China will buy a controlling stake in Nigeria's Kaduna oil refinery of 110,000 bpd capacity and build a railroad system and power stations.
Nigeria, Africa's top oil exporter, has long been viewed by China as a partner.
The African nation will offer first right of refusal to China National Petroleum for a quartet of exploration blocks during a licensing round due to be held in Nigeria on 19 May.