NNPC, partners sign agreements for $21bn Bonga deepwater project

The Nigerian National Petroleum Company Limited and its partners in Oil Mining Lease 118 have signed key agreements to advance the Bonga Southwest-Aparo deepwater project, a major development expected to attract up to $21 billion in investment. The signing, which occurred on Monday, August 24, 2026, marks a significant step toward a Final Investment Decision for one of Nigeria's largest proposed oil and gas developments. The agreements executed were an Addendum to the OML 118 Production Sharing Contract and an Addendum to the Dispute Settlement Agreement.