{"id":19434,"date":"2017-11-24T12:48:38","date_gmt":"2017-11-24T11:48:38","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=19434"},"modified":"2017-11-24T12:48:38","modified_gmt":"2017-11-24T11:48:38","slug":"nnpc-secures-3-7-bn-alternative-funding","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/nnpc-secures-3-7-bn-alternative-funding\/","title":{"rendered":"NNPC Secures $3.7 bn in Alternative Funding"},"content":{"rendered":"<p>The Nigerian National Petroleum Corporation said it had secured a total of $3.7 billion in alternative financing agreements in the last three years. The Group Managing Director, NNPC, Maikanti Baru, said securing external funding arrangement was crucial to sustaining oil and gas production in Nigeria and ensuring the survival of the country\u2019s energy future.<\/p>\n<p>He was quoted in a statement issued in Abuja by the corporation\u2019s spokesperson, Ndu Ughamadu, as saying, &#8220;Within the last three years, we have embarked on several successful alternative funding programmes to sustain and increase the national daily production.&#8221;<\/p>\n<p>Baru said the $3.7 billion financing included the $1.2 billion multi-year drilling financing package for 23 onshore and 13 offshore wells under the NNPC\/Chevron Nigeria Limited Joint Venture termed: Project Cheetah; $2.5 billion alternative funding arrangement for NNPC\/SPDC JV termed: Project Santolina; the $780 million NNPC\/CNL JV termed: Project Falcon; as well as the $700 million NNPC\/First E&amp;P JV and Schlumberger agreement.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p style=\"font-weight: 400\"><b><strong><em>Photo Caption:\u00a0Group Managing Director, NNPC, Maikanti Baru,<\/em><\/strong><\/b><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Nigerian National Petroleum Corporation said it had secured a total of $3.7 billion in alternative financing agreements in the last three years. The Group Managing Director, NNPC, Maikanti Baru, said securing external funding arrangement was crucial to sustaining oil and gas production in Nigeria and ensuring the survival of the country\u2019s energy future. He &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":19435,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[3325,188],"coauthors":[2391],"class_list":["post-19434","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-alternative","tag-nnpc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NNPC Secures $3.7 bn in Alternative Funding - National Wire<\/title>\n<meta name=\"description\" content=\"The Nigerian National Petroleum Corporation said it had secured a total of $3.7 billion in alternative financing agreements in the last three years.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/nnpc-secures-3-7-bn-alternative-funding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NNPC Secures $3.7 bn in Alternative Funding - 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