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Nigeria signs $800M gas deal with Total
Nigeria and the French company Total Energies announced an agreement to invest $800 million in an offshore gas field to boost natural gas production. This aims to increase Nigeria’s oil and gas output, which has risen from less than one million barrels to 1.6 million barrels per day since 2023, with a goal of reaching two million barrels by 2027. Production is expected to begin in 2028 at a rate of 350 million cubic feet per day, reflecting the country's efforts to transform its natural resources into investment and economic opportunities, despite the fact that the field remained untapped for 50 years.
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