The base-case development concept for the gas finds in the two licences is a floating liquefied natural gas production vessel, with Statoil expected to head the joint engineering process.
Shell, NNPC and Nigerian oil authorities are in talks over the agreement.
"We will spud an appraisal well on the Nnwa find in June this year. If there are no unpleasant surprises on the reserves side and joint studies underpin the co-ordinated development scheme, a decision to go ahead with the project could be reached in mid 2003," a Statoil spokesman said.
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