Nigeria's State oil company agrees $700m joint venture – NNPC

Nigeria's State oil company said on Thursday it had agreed a joint venture to cover the more than $700-million cost of developing new oil fields in its southern Niger Delta energy hub. The Nigerian National Petroleum Corporation (NNPC) said it had a tripartite agreement with local energy firm First Exploration and Petroleum Development Company and international oil services company Schlumberger to develop the Anyala and Madu fields under Oil Mining Licence (OML) 83 and 85.