NIGERIAN independent E&P player Neconde this month signed a $640 million secured medium-term loan facility with several local and international lenders to refinance capacity to develop Oil Mining Licence (OML) 42 for the next two decades.
The lending consortium comprises four Nigerian institutions — Access Bank, Fidelity Bank, Zenith Bank and First Bank — and three international lenders, including Africa Import Export Bank (Afrexim), Africa Finance Corporation and Glencore Energy.
