Nigeria climbs to top three in global deepwater oil projects, attracting $90B in potential investment.

Nigeria has risen to the top three globally in deepwater oil projects, up from the bottom quartile, thanks to recent reforms enhancing fiscal attractiveness and business ease. These changes include a new fiscal framework for deepwater gas and the approval of the Ubeta project. Nigeria is poised to access $90 billion in financing, potentially unlocking 1.3 billion barrels of oil and boosting the economy through foreign exchange and job creation.

November 15, 2024
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