MCB is pleased to announce its USD120m participation in a USD360m senior secured bridge facility to part finance the acquisition of all Equinor's offshore infrastructure by Chappal in Nigeria.
Chappal is an indigenous Nigerian O&G company focused on brownfield upstream opportunities within Africa.
The acquisition includes operational rights and a 53.85% ownership in the OML 128 and OML 129 fields alongside a unitized 20.21% stake in the giant offshore Agbami field, operated by Chevron.
The Agbami field is one of Nigeria's largest deep-water oil fields, which began production in 2008 and has produced over one billion barrels of oil to date.
