Nigeria to reduce oil sector’s contracting cycle to six months

Nigeria to reduce oil sector’s contracting cycle to six months

Nigerian National Petroleum Company Limited (NNPCL) and Nigerian Content Development & Monitoring Board (NCDMB), yesterday, signed a Memorandum of Understanding with international oil companies (IOCs) to reduce the contracting cycle to 180 days (about six months). On paper, a contract cycle in the oil and gas sector in Nigeria takes about 10 months, and sometimes … Read more