Nigeria Signed Funding Deal with Shell

"What we are signing today is the modified carry agreement for the Shell/NNPC Gbaran Ubie project. NNPC's share is $1.69 billion and that is what we have come here to sign," NNPC Managing Director Mohammed Barkindo said before the signing.

He said the deal brought to three the number of carry agreements signed with Shell, worth a total $2.4 billion, to cover NNPC's share of joint venture project funding from 2007 to 2012.

Author: Ksenia Kochneva