Signing Ceremony of Execution of OML 118 (Bonga) Agreements between NNPC group and Contractor Parties (Shell Nigeria, Exxon Mobil Nigeria, TOTAL Nigeria and NAOC) on the 25th of May 2021. This marks a watershed in the administration of deepwater operations in Nigera. Over $10bn of investment will be unlocked as a result of this development. By these Agreements, NNPC group and the Contractors have settled the long-standing disputes that have bedevilled the PSC administration and entered into a new PSC with clearly aligned terms.This renewed relationship will create the stability required for investments in the deepwater terrain. It will also facilitate the $16bn Bonga South West Aparo Project investment by SNEPCO.