Nigeria, Sept. 2 -- The Nigerian National Petroleum Company Limited (NNPC Ltd), in partnership with the TotalEnergies-Sapetro Consortium, has executed a Production Sharing Contract (PSC) for Petroleum Prospecting Licences (PPLs) 2000 and 2001.

The NNPC Ltd in a statement on Monday night, said this marks a significant milestone in Nigeria's upstream oil and gas sector.

The state-owned oil company explained that the contract is the first to comprehensively cover both crude oil and natural gas exploration and production.

The event, which took place at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Headquarters in Abuja on Monday, according to the statement, signifies a major milestone in the federal government's efforts to ...