NNPC JUNE 2021 CRUDE OIL AND GAS SALES AND …

NNPCRestricted Circulation Please

NNPC PRESENTATION TO THE FEDERATION ACCOUNT ALLOCATION COMMITTEE (FAAC)

MEETING OF 18TH & 19AUGUST 2021

NNPC JUNE 2021 CRUDE OIL AND GAS SALES AND PROCEEDSRECEIVED IN JULY 2021

Evaluation of Govt. Exiting of JV Cash-Calls:

Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)AUGUST 2021 FAAC EXECUTIVE SUMMARY

2

AUGUST 2021 FAAC EXECUTIVE SUMMARY

SUMMARY OF JUNE 2020 CRUDE OIL AND GAS SALES/RECEIPTS IN JULY 2021

Volume % USD NGN Equiv.

Export Crude Oil BBLS/$ 178,185.00 2% 12,949,588.87 4,976,138,515.07 B 4,489,295,702.87 10.84%

Domestic Crude Oil (Due in SEPTEMBER 2021 ) BBLS/$ 8,481,718.00 98% 625,026,378.82 239,260,097,811.91 B 300,207,005,784.26 -20.30%

Sub-total (a) BBLS/$ 8,659,903.00 100% 637,975,967.69 244,236,236,326.99 304,696,301,487.13 -19.84%

Export Gas (NGL/LPG/EGTL) MT/$ 33,000.00 20,201,280.00 7,762,745,865.60 C - -

NLNG Feedstock Gas MBTU/$ 37,813,138.97 54,085,500.09 20,783,435,119.58 C 18,451,758,331.92 12.64%

Domestic Gas(NGL) MT/₦ 7,001.00 1,632,668,650.26 C 1,246,043,364.30 31.03%

Sub-total (b) BBLS/$ 74,286,780.09 30,178,849,635.44 43 19,697,801,696.22 53.21%

Total Oil & Gas (c ) = (a) + (b) 712,262,747.78 274,415,085,962.43 324,394,103,183.35 -15.41%

S

A

L

E

S

Description Unit

JUNE 2021 SALES

Ref

MAY 2021 SALES NAIRA

EQUIV. VARIANCE %

NGN NGN Equiv.

Export Crude Oil $ - 4,976,138,515.07 D 4,489,295,702.87 10.84%

Export Gas (NGL/LPG/EGTL) $ - 7,666,678,365.60 C - -

NLNG Feedstock Gas $ - 16,910,726,937.31 C 13,836,640,252.18 22.22%

N-Gas Export $ - - D - -

NLNG Feedstock Gas (Arrears) ₦ 686,109,712.01 D 1,599,795,427.08 -57.11%

Total Oil & Gas Export (d) $ - 30,239,653,529.99 19,925,731,382.13 51.76%

Other Receipts US$ - 38,278,893,930.33 D 52,318,027,268.74 -26.83%

Gross Oil & Gas Export (e) US$ 68,518,547,460.32 72,243,758,650.87 -5.16%

Domestic Crude Cost Due (April 2021) ₦ 166,346,187,923.38 166,346,187,923.38 E 184,526,947,688.09 -9.85%

Domestic Gas (NGL) ₦ 1,632,668,650.26 1,632,668,650.26 E 1,246,043,364.30 31.03%

Domestic Gas and Other Receipts ₦ 33,908,039,074.89 33,908,039,074.89 E 37,379,726,208.56 -9.29%

Total Oil & Gas Domestic (f ) ₦ 201,886,895,648.53 201,886,895,648.53 223,152,717,260.95 -9.53%

Gross Revenue Oil & Gas (g) = (e) + (f) 201,886,895,648.53 270,405,443,108.85 295,396,475,911.82 -8.46%

JV Cost Recovery (T1/T2) (h) ₦/$ 23,969,407,702.56 70,475,012,178.78 O 56,671,376,566.47 24.36%

Strategic Holding Cost ₦ 557,410,203.01 557,410,203.01 N 677,576,528.72 -17.73%

Pipeline Management Cost ₦ - - N - -

Pipeline Operations, Repairs & Maintenance Cost ₦ 3,101,646,439.61 3,101,646,439.61 N 3,313,313,364.66 -6.39%

Total Pipeline Repairs & Management Cost (i) ₦ 3,659,056,642.62 3,659,056,642.62 3,990,889,893.38 -8.31%

Product Losses ₦ 3,692,585,761.26 3,692,585,761.26 H 2,182,982,267.03 69.15%

NNPC Value ShortFall ₦ 103,286,281,752.62 103,286,281,752.62 P 164,337,097,352.49 -37.15%

Total Products Losses and Value Shortfall (j) ₦ 106,978,867,513.88 106,978,867,513.88 166,520,079,619.52 -35.76%

Total Deductions (k) = (h) + (i) + (j) ₦ 134,607,331,859.06 181,112,936,335.28 227,182,346,079.37 -20.28%

Total Available for Payment and Remittance (l) = (g) - (k) ₦/$ 67,279,563,789.47 89,292,506,773.57 68,214,129,832.45 30.90%

Govt. Priority Projects ₦/$ 22,012,942,984.10 O 21,051,642,727.91 4.57%

DPR (Royalty) ₦/$ - A -

FIRS (Taxes) ₦/$ - A -

Total Statutory Payments ₦/$ - - -

(NNPC Profit) Transfer to Federaton Accounts including PSC

and Misc.₦/$ 67,279,563,789.47

67,279,563,789.47 A 47,162,487,104.54 42.65%

Total Remittance 67,279,563,789.47 67,279,563,789.47 A 47,162,487,104.54 42.65%

384.27

-

178,308,344.29

0.00

Exchange Rate USD/ NGN as advised by CBN @

-

121,023,250.52

57,285,093.77

A

M

O

U

N

T

D

U

E

57,285,093.77

-

-

0.00

D

E

D

U

C

T

I

O

N

S

121,023,250.52

VARIANCE % USD

12,949,588.87

19,951,280.00

REF. JUNE 2021 RECEIPTS

NAIRA EQUIV.

-

-

-

R

E

V

E

N

U

E

SALES RECEIPTS CurrencyJULY 2021 RECEIPTS

44,007,408.69

178,308,344.29

-

-

-

-

1,785,488.62

78,693,766.18

99,614,578.11

33

NOTES TO THE AUGUST 2021 FAAC EXECUTIVE SUMMARY

NOTES TO THE TABLE

1. Crude Oil and Gas Sale

The overall NNPC Crude Oil lifting of 8.66Mbbls (Export & Domestic Crude) in June 2021recorded 19.84% decrease

relative to the 11.58Mbbls lifted in May 2021.

Nigeria maintained 1.554 Million bpd OPEC Production cut in June 2021

1. Sales Receipt

Export Crude Oil: Crude Oil export revenue received in July 2021 amounted to $12.95Mn equivalent to N4.97Bn.

Gas: Domestic Gas receipts in the month was N6.8Bn.

NLNG: Feedstock valued at $54.09Mn was sold to NLNG during the period out of which $44Mn was received

during the month. The difference being MCA obligations, Gas reconciliation and Credit Notes.

Other Receipts: The sum of $99.61Mn being miscellaneous receipts, Gas and Ullage fees and Interest income was received in July 2021 (See Appendix D).

Domestic Gas & Other Receipts amounted to N33.91bn

Out of the value shortfall of N143,286,281,752.62, the sum of N103,286,281,752.62 was applied on the Gross

Domestic receipts before arriving at the net receipt of N67.28bn in order to make funds available for JV cost

recovery to sustain the existing production level. The balance of N40,000,000,000.00 will be deducted in subsequent

months.

The July, 2021 value shortfall of N175,317,701,294.80 & outstanding balance of N40,000,000,000.00 will be deductible

from the August, 2021 proceeds due for sharing at the September, 2021 FAAC meeting.


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)NOTES TO THE FAAC TABLES

4

EVENTS THAT AFFECTED PRODUCTION IN JUNE, 2021

1

Some injectors into

Forcados shut-in production

for planned TFP leak repairs

06-09/06/2021 200,000Curtailed production within

the period

2Enageed shut down due to tank

top. About 6kbd of production

deferred

01-10/06/2021, 16-17/06/2021, 21/06/2021,

30/06/202184,000

Curtailed production within

the period

3Egbema shut down on 29/05/2021

due to reported fire on Egbema-

Assa trunkline 01-08/06/2021 30,000


the period

4

Force majeure was declared

on Transforcados Pipeline

and Ughelli Pump Station on

15/06/2021, the Force

majeure was lifted on

16/06/2021. About

80,000bbls of production

was deferred.

6/15/2021 80,000Curtailed production within

the period

5Uzere/Afiesere/Kokori stations shut

down due to community workers’

protest.

22-30/06/2021405,000


the period

6Injection into Trans-Forcados

Pipeline suspended on 29/06/2021

due to fire on TFP Right of Way.

29-30/06/202180,000


the period

ANYALA MADU 7

Production was curtailed from

16/06/2021 by about 15kbd to

manage tank top before the next

offtake.

16-22/06/2021 105,000 105,000Curtailed production within

the period

8

Ohaji and Waltersmith on shutdown

on 29/05/2021 due to reported fire

outbreak


the period

9Heirsholding deferred production

due to challenges with gas lifting6/7/2021 10,000


the period

10

Aiteo shut down NEMC/2 flow

station on 07/06/2021 for delivery

line repairs.


the period

11

Heirsholding curtailed production

from 19-23/06/2021 for maintenance

activities. About 20kbd of

production shut in


the period

12Production curtailed due to Kolo-

Creek Trunk Line outage. 25-30/06/2021 90,000Curtailed production within

the period

UGO OCHA 13

Jones creek came down on

19/06/2021 due to shut-in of

flowing conduits by community

contractors.


the period

OKONO 14

Okpoho shut down to manage tank

top before the next offtake at

Okono. 19-30/06/2021

96,000 96,000Curtailed production within

the period

SEA EAGLE 15Sea Eagle was shutdown @ 0933hrs

of 25/04/2021 for TAM 01-30/06/2021 750,000 750,000Curtailed production within

the period

REMARKTERMINAL EVENT/ INCIDENTS PERIOD AFFECTEDPRODUCTION SHUT-

IN (LOSSES)

TERMINAL

TOTAL SHUT-IN /

LOSSES IN BBLS

FORCADOS 879,000

BONNY 335,000


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)NOTES TO THE FAAC TABLES

5

EVENTS THAT AFFECTED PRODUCTION IN JUNE, 2021

16Production curtailed at USAN due

to a trip 11-12/06/2021 35,000Curtailed production within

the period

17

Usan shut down on 19/06/2021 for

maintenance of cooling water

system


the period

BRASS 18

Injection into Brass curtailed due to

NAOC pipeline leak at Ebocha 1-10/06/2021 200,000 200,000Curtailed production within

the period

19

Production deferred due to tank top

space constraint and process trip 01-02/06/2021 70,000Curtailed production within

the period

20Well were at minimum choke for

flare management 03--06/06/2021 60,000Curtailed production within

the period

21

Production cutback to manage tank

top 25-29/06/2021 100,000Curtailed production within

the period

22

Yoho shut down production on

28/05/2021 due to gas leak. The

FPSO still on shut down.


the period

23

Production curtailed at YOHO for

flare control. 22-24/06/2021 40,000Curtailed production within

the period

24

Production shut-in for flare

management, Low well head

pressure (LWHP),


the period

25Production shut-in due to tank

top concerns10-17/06/2021 530,000


the period

26Production cut back due to DPR

restriction on lifting18-22/06/2021 650,000


the period

27Production shortfall due to

LWHP, gas leak23-30/06/2021 240,000


the period

AGBAMI 28

Production curtailed by about

30kbd due to Technical Allowable

Rate limit determination

ongoing.


the period

EGINA 29

Production shut-in due to

general process and utility

shutdown.

07-08-/06/2021 70,000 70,000Curtailed production within

the period

30

Pennington shut down

production on 07/06/2021 for

vessel swap and resumed on

08/06/2021.


the period

31CO NO G production shut in due

to riser leakage.04-06/06/2021, 08-14/06/2021 170,000


the period

IMA 32Controlled shut down for

maintenance 14/09/19 - Date (30 days in June)30,000 30,000 Shut-in of 1kbd for 30days

TOTAL LOSS (IN BBLS) 6,035,000 6,035,000

REMARKTERMINAL EVENT/ INCIDENTS PERIOD AFFECTEDPRODUCTION SHUT-

IN (LOSSES)

TERMINAL

TOTAL SHUT-IN /

LOSSES IN BBLS

USAN 585,000

PENNINGTON 195,000

ERHA 230,000

YOHO 280,000

QUA IBOE 1,620,000


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)NOTES TO THE AUGUST 2021 FAAC TABLES

6

The above tables and notations are presented to you for your kind consideration and adoption.

Bello Abdullahi

For: Chief Financial Officer

1 Appendix A Analysis of Receipts Due in July, 2021

2 Appendix B Crude Oil Sales Profile for the month of June 2021

3 Appendix C Gas Sales Profile for the month of June 2021

4 Appendix D Summary of Export Receipts and Other Receipts in July 2021

5 Appendix E Domestic Crude Cost Due, Gas Revenue and Other Miscellaneous Naira Receipts

6 Appendix F Statement of JV Cost Recovery Funding as July , 2021

7 Appendix G Government Priority Projects Monthly Status Updates

8 Appendix H Petroleum Products Losses

9 Appendix I MCA Crude Oil & Gas Lifting Profile for the month of June 2021

10 Appendix J Repayment Agreement Lifting

11 Appendix K Crude Oil & Gas Lifting for the payment of PPT for June 2021

12 Appendix L Crude Oil & Gas Lifting for the payment of Royalty for June 2021

13 Appendix M Crude Oil and Gas Revenue

14 Appendix N Pipeline Repairs and Management

15 Appendix O FAAC Distribution in July, 2021 Funding (August 2021 FAAC)

16 Appendix P NNPC Value Short- Fall June, 2021

17 Appendix Q Funding Performance January-July, 2021

For More Details, please refer to the underlisted appendices


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)Appendix A

Analysis of Receipts Due in July 2021

7

JV CRUDE JV GAS PSC MISC TOTAL

Gross Revenue 171,322,326,438.45 26,210,073,953.17 - 72,873,042,717.23 270,405,443,108.85

Less: Royalty 32,840,757,446.38 1,557,778,274.81 0.00 0.00 34,398,535,721.19

JV Cost Recovery (T1 & T2) 61,123,861,292.17 9,351,150,886.61 - - 70,475,012,178.78

Profit before Tax 77,357,707,699.90 15,301,144,791.75 - 72,873,042,717.23 165,531,895,208.88

Tax 65,754,051,544.92 4,590,343,437.52 0.00 0.00 70,344,394,982.44

Profit after Tax 11,603,656,154.99 10,710,801,354.22 - 72,873,042,717.23 95,187,500,226.43

COSTS ROYALTY TAX JV PROFIT TOTAL

Gross Contribution 34,398,535,721.19 70,344,394,982.44 22,314,457,509.21 127,057,388,212.84

Less: Priority Project 22,012,942,984.10 5,959,614,125.69 12,187,305,105.04 3,866,023,753.36 22,012,942,984.10

Strategic Holding Cost 557,410,203.01 150,908,932.17 308,606,087.68 97,895,183.15 557,410,203.01

Pipeline Operations, Repairs & Maintenance Cost 3,101,646,439.61 839,715,795.74 1,717,203,897.49 544,726,746.38 3,101,646,439.61

Crude Oil & Product Losses 3,692,585,761.26 999,702,142.46 2,044,373,136.82 648,510,481.98 3,692,585,761.26

NNPC Value Shortfall 103,286,281,752.62 27,962,929,998.41 57,183,695,510.12 18,139,656,244.09 103,286,281,752.62

Total Deduction (excluding T1/T2) 132,650,867,140.60 35,912,870,994.48 73,441,183,737.15 23,296,812,408.97 132,650,867,140.60

Net Contribution (1,514,335,273.28) (3,096,788,754.71) (982,354,899.76) (5,593,478,927.75)

Crude Gas

Royalty (1,514,335,273.28) 27.07%

Tax (3,096,788,754.71) 55.36% Tax Segregation (2,685,883,697.52) (410,905,057.18)

Profit (982,354,899.76) 17.56%

JV Total Contribution (a) (5,593,478,927.75) 100%

PSC -

Mis 72,873,042,717.23

PSC/Misc. Total Contribution (b) 72,873,042,717.23

Total Contribution to Federation (a+b+c) 67,279,563,789.47

PSC/Misc. Contribution

Summary of Receipts & Remittances Due in July 2021

Description- NGN -

DESCRIPTION- NGN -

Post-Appropriation

Contribution %

Contribution to Federation by Segment

DescriptionTotal Post-Appropriation

Contribution [NGN]

Segregation of July 2021 Crude Oil, Gas & Other Reciepts

Analysis of July 2021 Appropriations

JV Contribution


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)Appendix A2

Summary of Federation Oil & Gas Lifting

8

JUNE 2021 MAY 2021 Variance JUNE 2021 MAY 2021 Variance

1 Federation Export 178,185 170,244 7,941.00 12,949,588.87 11,682,659.86 1,266,929.01

2 Domestic Crude 8,481,718 11,412,945 (2,931,227.00) 625,026,378.82 782,869,600.71 (157,843,221.89)

3 Modified Carry Arrangement (MCA) Oil 66,600 575,000 (508,400.00) 4,439,755.80 39,401,300.00 (34,961,544.20)

4 Projects / RA 400,000 1,162,467 (762,467.00) 29,064,400.00 78,445,459.16 (49,381,059.16)

5 CJ Blend Trial Marketing 630,574 1,267,308 (636,734.00) 47,076,763.12 86,459,340.64 (39,382,577.52)

9,757,077 14,587,964 (4,830,887) 718,556,887 998,858,360 (280,301,473.76)

6 FIRS - PSC Tax Oil 4,044,743 997,145 3,047,598 296,016,522.37 67,245,915.32 228,770,607.05

7 DPR – Royalty & Con. 1,549,663 3,126,702 (1,577,039) 115,602,773.39 214,593,894.56 (98,991,121.17)

5,594,406 4,123,847 1,470,559 411,619,295.76 281,839,809.88 129,779,485.88

15,351,483 18,711,811 (3,360,328) 1,130,176,182.37 1,280,698,170.24 (150,521,987.88)

Volume Volume Value (USD) Value (USD)

JUNE 2021 MAY 2021 Variance JUNE 2021 MAY 2021 Variance

1 LPG/NGL [MT] 40,001 7,000 33,001.00 24,179,808.28 3,036,390.00 21,143,418.28

2 EGTL/EGP Products [MT] 67,404 37,887 29,516.85 39,449,029.09 20,000,510.20 19,448,518.89

2 NLNG Feed Stock Gas [BTU] 37,813,139 33,761,288 4,051,851.00 54,085,500.09 48,017,691.55 6,067,808.54

3 Project Falcon - Escrow 81,820 133,439 (51,619.07) 46,359,002.41 67,090,815.70 (20,731,813.29)

TOTAL GAS SALES 164,073,339.87 138,145,407.45 25,927,932.42

1,294,249,522.23 1,418,843,577.69 (124,594,055.46) Total Crude Oil& Gas Sales

Total Crude Sales

Gas Sales

S/N

S/N

PSC & Others Sub-total

Summary of Federation Crude Oil & Gas Liftings

Crude Oil SalesVolume (Bbls) Value (USD)

JV Sub-total


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)Appendix B

June 2021 Crude Oil Export & Domestic Crude Sales

9

Value Receipt Variance

CNL 149,248 10,844,508.93 10,844,508.93 -

SPDC 28,937 2,105,079.94 2,105,079.94 -

JV Sub-total 178,185 12,949,588.87 12,949,588.87 -

178,185 12,949,588.87 12,949,588.87 -

Fiscal Regime Operator Volume (Bbls) USD Value NGN Equiv.

CNL 1,839,403.00 140,308,972.16 53,710,274,542.47

MPN 2,850,148.00 210,829,362.75 80,705,480,061.08

SPDC 1,895,588.00 138,290,040.53 52,937,427,515.65

TEPNG 1,896,579.00 135,598,003.38 51,906,915,692.72

8,481,718.00 625,026,378.82 239,260,097,811.91

June 2021 Crude Oil Exports Payable in July 2021

Fiscal Regime- USD -

Operator Volume (Bbls) Remark

June 2021 Domestic Crude Oil Payable in September

2021 by NNPC in line with the 90 days payment terms.

Total

JV

JV

June 2021 Domestic Crude Oil Payable in September 2021Remark

Total


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)Appendix C

June 2021 Export & Domestic Gas Sales

10


MPN 33,000.00 20,201,280.00 19,951,280.00 250,000.00 1st Lifting Deposit

33,000.00 20,201,280.00 19,951,280.00 250,000.00


SPDC 28,429,460.73 39,746,691.73 32,174,587.81 7,572,103.92 Credit Notes Applied

TEPNG 9,383,678.24 14,338,808.36 11,832,820.88 2,505,987.48 MCA Transfers

37,813,138.97 54,085,500.09 44,007,408.69 10,078,091.40


MPN 7,001 1,632,668,650.26 1,632,668,650.26 -

-

7,001 1,632,668,650.26 1,632,668,650.26 -

NGL/LPG DOMESTIC (Export Payable in Naira)

Domestic Gas Sub-total (e)

Fiscal Regime OperatorVolume

(MT)

JV

Remark- NGN -

June 2021 Export & Domestic Gas Sales NGL/LPG

NLNG FEEDSTOCK

Volume

(MBTU)

REMARKS

REMARKS

Volume

(MT) - USD -

Fiscal Regime Operator- USD -

Fiscal Regime Operator

Sub-total (a)

JV

JV

Sub-total (b)


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)Appendix D

JULY 2021 Crude Oil, Gas, & Other Receipts

11

Category DescriptionUSD NGN

Equiv. NGN

JV 12,949,588.87 - 4,976,138,515.07

PSC / SC - - -

12,949,588.87 - 4,976,138,515.07

NLNG Feedstock 44,007,408.69 - 16,910,726,937.31

NLNG Sales ( Arrears) 1,785,488.62 - 686,109,712.01

45,792,897.31 0.00 17,596,836,649.31

INTEREST 500.26 192,234.91

N-GAS LIMITED 1,201,793.12 461,813,042.22

SOUTHERN HYDROCARBON RESOURCES 1,934,061.44 743,201,789.55

SOUTHERN HYDROCARBON RESOURCES 1,289,374.29 495,467,858.42

N-GAS LIMITED 3,686,223.95 1,416,505,277.27

SOUTHERN HYDROCARBON RESOURCES 3,993,294.39 1,534,503,235.25

SOUTHERN HYDROCARBON RESOURCES 2,662,196.26 1,023,002,156.83

INTEREST 74.90 28,781.82

GREEN ENERGY INTERNATIONAL LIMITED 1,000,000.00 384,270,000.00

CHEVRON JVC 83,223,311.75 31,980,222,006.17

CHEVRON JVC 623,747.75 239,687,547.89

Sub-total (d) 99,614,578.11 - 38,278,893,930.33

Total (e) = a+b+c+d 178,308,344.29 - 68,518,547,460.32

Other Receipts

Crude Oil, Gas, & Other Receipts

Sub-total (a)

NLNG Feedstock

Sub-total (c)

Crude Oil


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)Appendix E

RECONCILED RECEIPTS OF DOMESTIC CRUDE COST, GAS REVENUE AND OTHER MISC. RECEIPTS

12

CUSTOMER QTY IN BBLS AVRG PRICE/ BBL ($) SALES VALUE IN US$BUDGET VALUE

$40.00/BBLS VARIANCE $ X RATE TO NAIRA

VALUE IN NAIRA REMARKS

A DOMESTIC CRUDE (April 2021)

1 DSDP Cargoes 6,634,520 65.5430 434,846,520.43 $331,726,000 ($103,120,520.43) 382.54 166,346,187,923.38

TOTAL (A) 6,634,520 65.5430 434,846,520.43 331,726,000.00 (103,120,520.43) 382.5400 166,346,187,923.38

B DOMESTIC GAS & OTHER RECIPTS

DESCRIPTION VALUE DATE GAS (NGL/LPG) JVC A/C OTHER DOMESTIC GAS

RECEIPTS MISCELLANEOUS OTHERS JV MISC. INCOME SUB-TOTAL REMARKS

NAIRA NAIRA NAIRA NAIRA NAIRA NAIRA

1 NNPC SHARE OF EQUITY GAS REVENUE July 295,691,545.21 295,691,545.21



















20 NNPC SHARE OF EQUITY GAS REVENUE July 1,268,708,441.95 1,268,708,441.95

21 NNPC SHARE OF EQUITY GAS REVENUE July 1,435,333,187.28 1,435,333,187.28

30 RAINOIL LIMITED 1,632,668,650.26 1,632,668,650.26

31 Miscellanous Income 27,112,703,523.02 27,112,703,523.02

32 0.00

TOTAL (B) 1,632,668,650.26 6,795,335,551.87 - 27,112,703,523.02 35,540,707,725.15

(TOTAL A+B) 201,886,895,648.53

DOMESTIC GAS & OTHER MISCELLANEOUS INCOME


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)Appendix F

STATEMENT OF JV COST RECOVERY & GOVERNMENT PRIORITY PROJECTS (July 2021)

13

Description 2021 Appropriation

Calendarized Cost

Recovery & Govt

Priority Projects

Actual Funding

Level

Actual Dollar

Equivalent Funding

Level @CBN Rate

Actual Funding

Level

Actual Functional

Dollar Funding

Level

Short-fall in Funding

6,432,519,686.13$ US$ =N= US$ US$ US$ US$

(a) (b) (c ) = (b)/EX@CBN) (d) (e ) = (c )+(d) (f) = (a)-(e )

January Monthly Funding 536,043,307.18 74,324,054,125.01 196,105,683.71 80,318,774.73 276,424,458.44 (259,618,848.74)

February 536,043,307.18 63,886,875,515.99 168,566,953.87 84,350,287.99 252,917,241.86 (283,126,065.32)

March 536,043,307.18 49,004,074,449.91 128,101,831.05 179,549,078.56 307,650,909.61 (228,392,397.57)

April 536,043,307.18 64,128,351,564.64 167,231,730.16 72,053,101.60 239,284,831.76 (296,758,475.42)

May 536,043,307.18 65,857,651,321.88 172,041,931.35 220,201,032.44 392,242,963.79 (143,800,343.38)

June 536,043,307.18 5,479,260,641.98 14,258,882.15 188,002,598.83 202,261,480.98 (333,781,826.20)

July 536,043,307.18 23,969,407,702.56 62,376,474.10 178,308,344.29 240,684,818.39 (295,358,488.79)

Total 3,752,303,150.24 346,649,675,321.97 908,683,486.38 1,002,783,218.44 1,911,466,704.82 (1,840,836,445.42)

Other Federally funded upstream projects are Gas Infrastructure Development, Brass LNG, Crude Oil Pre-Export Inspection Agency Expenses, Frontier Exploration Services, EGTL Operating Expenses and NESS Fee. Pipeline Security and maintance excluded.

Month2020 JV Cost Recovery for T1+T2 &

Others Federally Funded Upstream

Project(Incl Pre-Export)


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)Appendix G (1)

GOVERNMENT PRIORITY PROJECT MONTHLY STATUS UPDATE

14

………………………………………………………………………….……………………….…Continued

US$ 'M NGN 'M US$ 'M NGN 'M US$ 'M NGN 'M US$ 'M NGN 'M US$ 'M NGN 'M

1 Escravos -Lagos-Pipeline Expansion Phase I (ELP I)

EPC for 24''x 56KM from Escravos to Warri,

Upgrade/Expansion of WGPT, and 30''X 48KM WGTP to PS

1 Ogara

Delta and Edo States Q4 2020 263.92 - - - - - - 221.42 4,841.22 99.00%

-Project Closed out

-Payments due to Contractor based on works carried out.

2 Escravos -Lagos-Pipeline Expansion Phase I I (ELP I I)Engineering, Procurement, and Construct ion for the

Expansion of Escravos - Lagos Pipeline Phase I I

Delta; Edo; Ondo; Ogun and

Lagos StatesQ4 2020 664.00 101.38 0.25 342.21 0.25 443.58 597.92 12,936.16 99.70%

-Complete all pending commissioning activ ities on the ELPS I I

contract including fencing and Cathodic Protection

($2.45M).

- Includes direct payment for Zakhems final milestone

340"x30KM Odidi –Warri Expansion Pipeline (OWEP),

Escravos-Warri-Oghara Expansion Pipeline (EWOEP)

Engineering Verification, Procurement, and Construct ion

for the 40"x30km Class 600 Odidi - Warri Gas Pipeline

Expansion, Escravos-Warri-Oghara Expansion Pipeline

(EWOEP)

Delta State TBD 130.50 24.07 767.22 N/A

- Contractor failed to prov ide Bank Guarantee as stipulated

in the Contract within its validity period.

- New strategy: FEED for EWOEP, optimisation of OWEP and

WGTP expansion

4

TNGP- QOOP- (24"x42KM Cawthorne Channel-Alakiri-

Obigbo Node) +(36"x132KM QIT - Obigbo Node)+

(40"x88KM Obigbo Node - OB/OB CTMS) + (Obigbo node

compressor stat ion);

QOOP- (24"x42KM Cawthorne Channel-Alakiri-Obigbo

Node) +(36"x132KM QIT - Obigbo Node)+ (40"x88KM

Obigbo Node - OB/OB CTMS) + (Obigbo node

compressor stat ion)

Cross River and Rivers States TBD N/A

5TNGP- Phase 1- (A) 36"x406KMObigbo Node-Umuahia-

Ajaokuta pipeline (OUA)

Phase 1- (A) 36"x406KMObigbo Node-Umuahia-Ajaokuta

pipeline (OUA)

Rivers; Abia; Enugu and Kogi

StatesTBD N/A

6TNGP- Phase 1- (B) 40"x614KM Ajaokutata- Kaduna- kano

(AKK)Ajaokuta -Kaduna-Kano Gas Pipeline Project

Kogi; Kaduna; Kano States and

FCTQ1 2023 16.16%

7 Gas Supply to NIPP Egbema 24"X20km for Gas Pipeline to the Egbema NIPP from OB-

OBRivers and Imo States TBD 60.00 8.30 - N/A

-Payment for security and storage of line pipes

8Ogidigben/Delta Gas City & Industrial Park/Port Facilit ies

(GRIP)

The project involves the init ial clearing, sand-filling,

development of basic infrastructures and Port Facilit iesDelta State TBD 2,050.20 11.44 9,172.82

Expected to

Commence Q2 2021

-Additional studies for: Relocation of pipelines, Coastal

Marine and Logistics, Water Solutions and Geotech/Soil

Investigation Studies

9 Obiafu/Obrikom-Oben (OB3)

OB3 Gas Pipeline Project (EPC): The project involves

Engineering, Procurement and Construct ion of

48'/36'x130km Obiafu/Obrikom-Oben (OB3) Pipeline. The

Project is split into Lot A (Nestoil-65.13 km) & Lot B (Oilserv

Rivers/Delta States/EdoQ4 2020;

Q4 2021 988.83 0.18 65.36 1.43 287.67 1.61 353.03 590.38 52,000.98

Lot A - 95%

Lot B - 98.32%

-Payment for Construction works at CTMS. This includes

mechanical, civ il and installation works

Considered Civ il works, the CTMS bypass and payment for

FTOs and remodification of the CTMS bypass

The 24"x5.5KM OB/OB to OB3 CTMS pipeline will supply

gas to OB3 pipeline from the NAOC JV OB/OB Gas PlantRiver State Q4 2020 98.23%

-Closeout payments on 5.5km OBOB to OB3 pipeline

-Execution of Engineering, Procurement & Construction,

Project Management Consultancy serv ices and Payment of

balance line pipes for ANOH-OB3 CTMS This includes EPCs for

both Pipeline Projects, ANOH line pipes contract and ANOH

PMC

- Egbema linepipe storage security and logistics

The 36"x23.3KM ANOH – OB3 pipeline will evacuate dry

gas from the Assa North PTF to the OB3 Custody Transfer

Metering Stat ion (CTMS) for delivery into the OB3 pipeline

Imo and Rivers States Q4 2021 43.03%

Engineering document alignment and rev iew concluded on

7/02/2020

Line pipe stringing on the ROW commenced and 390

achieved

Rivers state ROW gazetted.

Compensation evaluation of Rivers ROW concluded

0.16 104.86 0.16 623.47

-

10OB3 Gas Supply Lines: OBOB-OB3 CTMS & ANOH -OB3

CTMS 118.60

GAS INFRASTRUCTURE DEVELOPMENT

5,153.00

FEB. 2020 APR. 2021 JAN. - APR., 2021 Inception TO 2021 STATUS (OUTSTANDING WORKS)S/N PROJECT TITLE PROJECT DESCRIPTION STRATEGIC PROJECT LOCATION

COMPLETION

TIMELINE FOR

STRATEGIC

PROJECT

117.14 3,501.28

-

PROJECT VALUE

FINANCIAL DETAILSPROJECT STAGE

PERCENTAGE

Completion %

-QOOP: FEED revalidation

- AKK: ROW acquisition balance payments and claims

- AKK: Outstanding Survey Payments

518.62 32.92 2,956.61

22.01 22.01


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)Appendix G (2)

GOVERNMENT PRIORITY PROJECT MONTHLY STATUS UPDATE

15

4,841.22 4,841.22

US$ 'M NGN 'M US$ 'M NGN 'M US$ 'M NGN 'M US$ 'M NGN 'M US$ 'M NGN 'M

11Escravos -Lagos-Pipeline Expansion Phase I I (ELP I I)

Compressor ELP I I Compressor

Delta/Edo/Ondo/ Ogun/Lagos

StatesQ3 2023 415.34 1.32 0.26 46.05 0.26 47.37 0.59 61.35

Geotech/Topo - 100%

EIA - 70%

FEED Update - 80%

-EIA

- Survey Works: Topo and geotech

-Project Management Consultancy serv ices - FEED Update

12Trans-Sahara Gas Pipeline (TSGP) (Nigeria Morocco Gas

Pipeline Project)Construct ing of 4,400 km of pipeline 48"/56" Offshore TBD 13,000.00 3.50 - N/A

Phase I I , Front End Engineering on-going

13 ELP-Ibadan-I lorin-Jebba (EIIJ) Gas supply line from ELPS to Ibadan-I lorin-Jebba Escravos/badan/Ilorin/Jebba TBD 269.40 - - Expected to

Commence Q2 2021

-EIA

- Survey Works: Topo and geotech

-Project Management Consultancy serv ices - FEED Update

14

CENTRAL CPF (ASSA NORTH OHAJI SOUTH (ANOH) GAS

PROCESSING PLANT including SEVEN CRITICAL GAS

DEVT PROJECT)

Gas processing Hub for Central CPF and Project

Management Contract for Gas Supply to the CPFsObiafu, Obrikum, Oben Q4 2021 367.41 211.59 780.35 62.50%

ANOH Gas Processing Plant under Construction and target

delivery date is Q4 2021

15 West Niger Delta CPF (WEND CPF) Gas processing Hub to underpin GRIP Western Niger Delta Q2 2023 54.00 2.84 94.61 Expected to

Commence Q2 2021

-PMC for Makaraba PF

-Lease of Makaraba PF

-Spur pipeline EPC

-Third Party Inspection Serv ices

16 Construct ion of Egbin 500 MMscfd PRMSConstruct ing a class 600 PRMS to transmit 500 MMscfd

gas.Egbin, Lagos State Q2 2023 56.00 - 86.00

Expected to

Commence Q2 2021

-Engineering, Procurement and Construction activ ities

17 Upgrade of Sapele Metering Stat ionUpgrade of Pressure Reduction, Metering and associated

facilit iesSapele, Delta State Q2 2021 12.50 0.11 48.29 0.11 48.29 1.28 621.97 52.07%


18 Upgrade of Oben Metering Stat ionRehabilitat ion and Upgrade of Pressure Reduction,

Metering and associated facilit iesOben, Edo State Q2 2021 14.50 0.11 41.79 0.11 41.79 0.50 299.76 27.04%


19 Upgrade of Ajaokuta Metering Stat ionRehabilitat ion and Upgrade of Pressure Reduction,

Metering and associated facilit iesAjaokuta, Kogi State Q2 2021 10.00 4.05 1.06 301.69 1.06 305.74 1.96 998.74 41.94%


20 Upgrade of Delta IVRehabilitat ion and Upgrade of Pressure Reduction,

Metering and associated facilit iesUghelli, Delta State Q2 2021 15.00 0.01 18.07 0.06 90.34 0.07 108.41 0.17 324.57 29.40%


21Provision of fuel gas supply facilit ies at Gbaramatu &

Escravos

Provision of pipeline infrastructure for gas supply to 2nos

500kva gas generators at Azama and Tebijor in

Gbaramatu Kingdom to commence in January, 2018

Escravos Environs, Delta State Q1 2021 5.00 0.33 135.41 85.00%- Prov ision of fuel gas supply to Escravos Communities Power

Generating Plants

22GBARAMATU IPP/ESCRAVOS ENVIRONS POWER

PLANT(EEPP)

Development of 20MW gas fired IPP for identified

communit ies in Escravos EnvironsEscravos Environs, Delta State Q2 2021 74.90 0.08 27.87 0.11 763.11 0.19 790.97 33.38 2,163.81

Lot 1 is 74%

Lot 2 is 40.45%

-EPC activ ities Lots 1&2 on-going

- PMC costs

- EPC for pipeline to ensure gas supply to Power Plant

TOTAL 23,723.10 - 0.43 322.90 3.38 2,461.79 3.81 2,784.68 1,859.73 91,742.87

GAS INFRASTRUCTURE DEVELOPMENT

FEB. 2020 APR. 2021 JAN. - APR., 2021 Inception TO 2021 STATUS (OUTSTANDING WORKS)S/N PROJECT TITLE PROJECT DESCRIPTION STRATEGIC PROJECT LOCATION

COMPLETION

TIMELINE FOR

STRATEGIC

PROJECT

FEDERATION ACCOUNT AND ALLOCATION COMMITTEE (FAAC) REQUEST: GAS INFRASTRUCTURE DEVELOPMENT PROJECTS

PROJECT VALUE

FINANCIAL DETAILSPROJECT STAGE

PERCENTAGE

Completion %


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)Appendix H

PRODUCT LOSSES

16

• 100% Products loss in System 2B

Segments(ATLAS COVE-MOSIMI-IDIMU-

SATELITE-IBADAN

• 0.2% of Products pumped Ex-Depot price

(148.17) from other segment

• May 21 &

June,21(N2,103,132,536.67+N1,589,453,224.59)

PRODUCT PIPELINE PERFORMANCE: JUNE 2021

m3 litres %

A/COVE - MOSIMI &

A/COVE-IDIMU-

SATELLITE PMS 170,879 164,523 (6,356) (6,355,554) (3.72)

MOSIMI - IBADAN PMS 58,547 54,175 (4,372) (4,371,673) (7.47)

IBADAN - ILORIN PMS 18,111 18,253 142 142,025 0.78

PH - ABA PMS 0 0 0 0 #DIV/0!

247,537 236,951.750 (10,585) (10,585,202) (4.28)

VARIANCE

TOTAL

PIPELINE SEGMENT PROD. PUMPED

(m3) RECEIVED (m3)

PRODUCT PIPELINE PERFORMANCE: MAY 2021

PIPELINE SEGMENT PROD.PUMPED

(m3) RECEIVED (m3)

VARIANCE

m3 litres %

A/COVE - MOSIMI &

A/COVE-IDIMU-SATELLITE

PMS 230,986 219,908 (11,078) (11,078,084) (4.80)

MOSIMI - IBADAN PMS 75,200 72,104(3,096)

(3,096,315) (4.12)

IBADAN - ILORIN PMS 6,422 6,524102

101,975 1.59

PH - ABA PMS 9,826 9,742 (85)(84,701) (0.86)

TOTAL 322,434 308,277.313(14,157)

(14,157,125)(4.39)


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)Appendix I

MCA CRUDE OIL & GAS LIFTING

17

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 15 16

(a) MCA - CRUDE OIL MCA VALUE

100 % FIRS -PPT

DPR-

ROYALTY

FIRS - EDU.

TAXCARRY OIL SHARE OIL

CUSTOMER B/L DATE DUE DATE VESSELCRUDE

TYPEPRODUCER AGR. INVOICE NO. QTY IN BBLS UNIT PRICE

SALES VALUE IN

US$ US$ US$ US$ US$ US$

SAHARA ENERGY RES. LTD 18-Apr-21 17-May-21KRITI HERO

BB NAOC JV NNPC/MCA-NAOC/04/005/2021 32,600 66.6630 2,173,213.80 1,477,785.38 434,642.76 260,785.66

SAHARA ENERGY RES. LTD 18-Apr-21 17-May-21KRITI HERO

BB NAOC JV NNPC/MCA-NAOC/04/006/2021 34,000 66.6630 2,266,542.00 1,541,248.56 453,308.40 61,317.33 210,667.71

66,600 4,439,755.80 3,019,033.94 887,951.16 61,317.33 471,453.37 -

1 2 3 4 5 6 7 8 10 11 12 12 13 14 15 16 17

(b) MCA - GAS MCA VALUE

100 %

FIRS - GAS @

CIT

DPR-

ROYALTY

FIRS - EDU.

TAX

RESIDUAL

CARRY GASSHARE GAS

CUSTOMER B/L DATE DUE DATE VESSEL GAS TYPE PRODUCER AGR. INVOICE NO.QTY IN

MMBTUUNIT PRICE US$ US$ US$ US$ US$ US$

1 NLNG 15-Jun-21 15-Jul-21 PIPELINE FEEDSTOCK TEPNG JV 150019501/502TEPNG 2,505,987.48 699,170.51 175,419.12 0.00 - 1,631,397.85

6,945,743.28 3,718,204.45 1,063,370.28 61317.33 471,453.37 1,631,397.85 GRAND-TOTAL

MCA GAS LIFTING FOR THE MONTH OF JUNE 2021 (100%)

MCA CRUDE OIL LIFTING FOR THE MONTH OF JUNE 2021 (100%)

SUB-TOTAL


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)Appendix J

JV REPAYMENT AGREEMENT & 3rd PARTY LIFTING

18

JV REPAYMENT AGREEMENT, 3RDPARTY LIFTING & TRIAL MARKETING JUNE 2021

1 2 3 4 5 6 7 8 9 10 11 12

CUSTOMER B/L DATE DUE DATE VESSEL CRUDE TYPE PRODUCER AGR INVOICE NO. QTY IN BBLS UNIT PRICESALES VALUE IN

US$REMARKS

JV - RA/CHTH/SANTOLINA ACCOUNTS

1 BONO ENERGY 10-Jun-21 10-Jul-21 ARCTIC ESL CNL JV NNPC/CNL/CHTA/06/003/2021 400,000 72.6610 29,064,400.00 PROJECT CHEETAH

TOTAL 400,000 29,064,400.00


US$REMARKS

PROJECT FALCON

1 DUKE OIL COMPANY INC. 30-Jun-21 30-Jul-21 GULF PEARL ESC COND. CNL JV NNPC/CNL/FALCON/06/010/2021 52,087.19 617.6200 32,170,090.91 PROJECT FALCON

2 BONO ENERGY 29-Jun-21 29-Jul-21 BW ODIN LPG-MIX CNL JV NNPC/CNL/FALCON/06/011/2021 29,732.71 477.2155 14,188,911.50 PROJECT FALCON

TOTAL 81,820 46,359,002

EGTL LIFTINGS

EGTL

CUSTOMER B/L DATE DUE DATE VESSEL GAS TYPE PRODUCER AGR INVOICE NO. QTY IN MT UNIT PRICESALES VALUE IN

US$REMARKS

1 DUKE OIL COMPANY INC. 03-Jun-21 03-Jul-21 HORIZON THEONI EGTL NAPHTHA CNL JV GS/06/009/2021-EGTL 28,063.20 595.6700 16,716,408.73 NNPC COLLECTION ACCT

2 WEST AFRICAN GAS LTD. 20-Jun-21 20-Jul-21 STI MANHATTAN EGTL TRANSMIX CNL JV GS/06/010/2021-A-EGTL 241.26 413.1250 99,672.19 NNPC COLLECTION ACCT

3 WEST AFRICAN GAS LTD. 20-Jun-21 20-Jul-21 STI MANHATTAN EGTL DIESEL CNL JV GS/06/010/2021-B-EGTL 39,099.85 578.8500 22,632,948.17 NNPC COLLECTION ACCT

TOTAL 67,404.32 585.260 39,449,029.09

NNPC FIRST E&P TRIAL MARKETING LIFTINGS


US$REMARKS

NNPC FIRST E&P ESCROW ACCOUNT

1 EQUINOR ASA 21-Jun-21 21-Jul-21 MINERVA KARTERIA CJ BLEND FIRST E&P JV COS/06/TMP-CJ/007/2021 630,574.00 74.6570 47,076,763.12 TMP

TOTAL 630,574 47,076,763.12

N. N. P. C.

N. N. P. C.

N. N. P. C.


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)Appendix J2

JV REPAYMENT AGREEMENT STATUS

19

Pre-2016 Cash Call Arrears Repayment: Status as at 31st May 2021

Next update will be available after the July 2021 JMT meeting

* Repayment is from Price Balance Distribution on Project Santolina

**NB:

Repayment is from Price Balance Distribution on Projects Cheetah and FalconNNPC has fully repaid its cash Call Arrears to MPN and all incremental barrels have reverted to base.

All figures in USD ($)

COMPANY

Total

Negotiated

Debt

Total Payment

to Date

Outstanding

Balance

SPDC* 1,372,505,467 455,300,000 917,205,467

MPN 833,751,722 833,751,722 (0)

CNL** 1,097,509,130 1,062,730,000 34,779,130

TEPNG 610,972,874 395,391,616 215,581,258

NAOC 774,660,000 477,429,471 297,230,529

TOTAL 4,689,399,193 3,224,602,809 1,464,796,384


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)

20

Appendix KCRUDE OIL LIFTING FOR THE PAYMENT OF PETROLEUM PROFIT TAX (PPT) FOR THE MONTH OF JUNE 2021 AND EXPECTED REVENUE INTO

CBN/FIRS PETROLEUM PROFIT TAX ACCOUNT IN JULY 2021

1 2 3 4 5 6 7 8 9 10 11 12 13 14

PPT CRUDE EXCH RATE NAIRAVALUE PAYABLE IN

NAIRA

CUSTOMER B/L DATE DUE DATE VESSEL CRUDE TYPE PRODUCER AGR INVOICE NO. QTY IN BBLS UNIT PRICE SALES VALUE IN US$ REMARK

1 BONO ENERGY 25-Jun-21 26-Jul-21 MARAN ANDROMEDA AGBAMI COND. SNEPCO PSC FIRS/06/013/2021 200,000 74.3680 14,873,600.00

200,000 74.3680 14,873,600


DSDP- FIRS ACCOUNT LIFTINGS (PPT) B/L DATE DUE DATE VESSEL CRUDE TYPE PRODUCER AGR INVOICE NO. QTY IN BBLS UNIT PRICE SALES VALUE IN US$ EXCH RATE NAIRAVALUE PAYABLE IN

NAIRA

1 LITASCO/BRITTANIA 02-Jun-21 31-Aug-21 MONTE URQUIOLA BONGA SNEPCO PSC FIRS/DSDP/06/009/2021 953,521 72.3080 68,947,196.47 382.8000 26,392,986,808.72

2 BP OIL INTERNATIONAL LTD/ AYM SHAFA 16-Jun-21 14-Sep-21 NISSOS IOS ERHA ESSO PSC FIRS/DSDP/06/010/2021 952,274 73.6700 70,154,025.58 382.8000 26,854,960,992.02

3 LITASCO/BRITTANIA U 18-Jun-21 16-Sep-21 TIANLONG SPIRIT BONGA SNEPCO PSC FIRS/DSDP/06/011/2021 941,313 74.9010 70,505,285.01 382.8000 26,989,423,102.98

4 SAHARA ENERGY RESOURCE DMCC 12-Jun-21 10-Sep-21 SABINE EGINA TUPNI PSC FIRS/DSDP/06/012/2021 997,635 71.7060 71,536,415.31 382.8000 27,384,139,780.67

3,844,743 73.1240 281,142,922.37 107,621,510,684.38

MCA OIL LIFTINGS

CUSTOMER B/L DATE DUE DATE VESSEL CRUDE TYPE PRODUCER AGR INVOICE NO. VALUE IN US$

1 SAHARA ENERGY RES. LTD 18-Apr-21 17-May-21 KRITI HERO BB NAOC JV NNPC/MCA-NAOC/04/005/2021 1,477,785.38 See Appendix K


3,019,033.94

3,019,033.94

MCA EDUCATION TAX OIL LIFTINGS


2 SAHARA ENERGY RES. LTD 18-Apr-21 17-May-21 KRITI HERO BB NAOC JV NNPC/MCA-NAOC/04/006/2021 61,317.33 See Appendix K

61,317.33

MCA GAS

CUSTOMER B/L DATE DUE DATE VESSEL GAS TYPE PRODUCER AGR INVOICE NO. VALUE IN US$

1 NLNG 15-Jun-21 15-Jul-21 PIPELINE FEEDSTOCK TEPNG JV 150019501/502TEPNG 699,170.51 See Appendix K

699,170.51

18,653,121.78

107,621,510,684.38 TOTAL payable in NGN

TOTAL payable in USD

TOTAL (MCA - Crude Oil)

SUB TOTAL

SUB TOTAL (a)

SUB TOTAL (b)

SUB TOTAL (c)

SUB TOTAL (d)


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)Appendix L

CRUDE OIL & GAS LIFTING FOR THE PAYMENT OF ROYALTY AND ROYALTY COMPONENT OF CARRY GAS VOLUME FOR THE MONTH OF JUNE 2021 AND EXPECTED REVENUE INTO DPR IN JULY 2021

21

1 2 3 4 5 6 7 8 9 10 11 12 13 14

PPT CRUDE EXCH RATE NAIRAVALUE PAYABLE IN

NAIRA


1 BONO ENERGY 25-Jun-21 26-Jul-21 MARAN ANDROMEDA AGBAMI COND. SNEPCO PSC FIRS/06/013/2021 200,000 74.3680 14,873,600.00

200,000 74.3680 14,873,600


DSDP- FIRS ACCOUNT LIFTINGS (PPT) B/L DATE DUE DATE VESSEL CRUDE TYPE PRODUCER AGR INVOICE NO. QTY IN BBLS UNIT PRICE SALES VALUE IN US$ EXCH RATE NAIRAVALUE PAYABLE IN

NAIRA

1 LITASCO/BRITTANIA 02-Jun-21 31-Aug-21 MONTE URQUIOLA BONGA SNEPCO PSC FIRS/DSDP/06/009/2021 953,521 72.3080 68,947,196.47 382.8000 26,392,986,808.72

2 BP OIL INTERNATIONAL LTD/ AYM SHAFA 16-Jun-21 14-Sep-21 NISSOS IOS ERHA ESSO PSC FIRS/DSDP/06/010/2021 952,274 73.6700 70,154,025.58 382.8000 26,854,960,992.02

3 LITASCO/BRITTANIA U 18-Jun-21 16-Sep-21 TIANLONG SPIRIT BONGA SNEPCO PSC FIRS/DSDP/06/011/2021 941,313 74.9010 70,505,285.01 382.8000 26,989,423,102.98

4 SAHARA ENERGY RESOURCE DMCC 12-Jun-21 10-Sep-21 SABINE EGINA TUPNI PSC FIRS/DSDP/06/012/2021 997,635 71.7060 71,536,415.31 382.8000 27,384,139,780.67

3,844,743 73.1240 281,142,922.37 107,621,510,684.38

MCA OIL LIFTINGS




3,019,033.94

3,019,033.94

MCA EDUCATION TAX OIL LIFTINGS


2 SAHARA ENERGY RES. LTD 18-Apr-21 17-May-21 KRITI HERO BB NAOC JV NNPC/MCA-NAOC/04/006/2021 61,317.33 See Appendix K

61,317.33

MCA GAS

CUSTOMER B/L DATE DUE DATE VESSEL GAS TYPE PRODUCER AGR INVOICE NO. VALUE IN US$

1 NLNG 15-Jun-21 15-Jul-21 PIPELINE FEEDSTOCK TEPNG JV 150019501/502TEPNG 699,170.51 See Appendix K

699,170.51

18,653,121.78

107,621,510,684.38 TOTAL payable in NGN

TOTAL payable in USD

TOTAL (MCA - Crude Oil)

SUB TOTAL

SUB TOTAL (a)

SUB TOTAL (b)

SUB TOTAL (c)

SUB TOTAL (d)


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)Appendix M

CRUDE OIL & GAS SALES AND REVENUE

22

CRUDE OIL REVENUE B/L DATE DUE DATE VESSEL CRUDE TYPE PRODUCER AGR INVOICE NUMBERS QTY IN BBLS UNIT PRICESALES RECEIPT VALUE IN US$ EXCH RATE NAIRA EQUIVALENTROYALTY

RATE (%) ROYALTY US$ ROYALTY (NAIRA)

BONO ENERGY 10-Jun-21 10-Jul-21 ARCTIC ESL CNL JV COS/06/021/2021- CNL 149,248 72.6610 10,844,508.93 384.27 4,167,219,446.53 20 2,168,901.79 833,443,889.31

DUKE OIL COMPANY INC. 12-Jun-21 12-Jul-21 RIDGEBURY JUDITH FB SPDC JV COS/06/033/2021 A-SPDC 23,937 72.7470 1,741,344.94 384.27 669,146,620.09 20 348,268.99 133,829,324.02

DUKE OIL COMPANY INC. 12-Jun-21 12-Jul-21 RIDGEBURY JUDITH FB SPDC JV COS/06/033/2021 B-SPDC 5,000 72.7470 363,735.00 384.27 139,772,448.45 20 72,747.00 27,954,489.69

6 BONO / ETERNA / ARKLEEN/ AMAZON 17-Apr-21 16-Jul-21 HARMONIC AMB TEPNG JV COS/04/COMD/DSDP/020/2021 948,660 64.6860 61,365,020.76 382.54 23,474,575,041.53 18.5 11,352,528.84 4,342,796,382.68

7 VITOL SA/CALSON/HYSON 03-Apr-21 02-Jul-21 KAROLOS QIL MPN JV COS/04/COMD/DSDP/028/2021 950,222 65.0110 61,774,882.44 382.54 23,631,363,529.36 18.5 11,428,353.25 4,371,802,252.93

8 MOCOH SA/MOCOH OIL 11-Apr-21 10-Jul-21 NAUTILUS BL SPDC JV COS/04/COMD/DSDP/029/2021 533,720 64.2640 34,298,982.08 382.54 13,120,732,604.88 20 6,859,796.42 2,624,146,520.98

9 MOCOH SA/MOCOH OIL 11-Apr-21 10-Jul-21 NAUTILUS BL SPDC JV COS/04/COMD/DSDP/030/2021 420,000 64.2640 26,990,880.00 382.54 10,325,091,235.20 20 5,398,176.00 2,065,018,247.04

10 CEPSA / OANDO PLC 17-Apr-21 16-Jul-21 CAESAR QIL MPN JV COS/04/COMD/DSDP/031/2021 949,889 65.1260 61,862,471.01 382.54 23,664,869,661.70 18.5 11,444,557.14 4,378,000,887.41

11 SAHARA ENERGY RES. LTD. 23-Apr-21 22-Jul-21 LOIRE ESL CNL JV COS/04/COMD/DSDP/032/2021 933,346 66.7730 62,322,312.46 382.54 23,840,777,407.68 20 12,464,462.49 4,768,155,481.54

12 DUKE OIL COY INC 23-Apr-21 22-Jul-21 ELANDRA FALCON EA SPDC JV COS/04/COMD/DSDP/033/2021 948,666 66.5350 63,119,492.31 382.54 24,145,730,588.27 20 12,623,898.46 4,829,146,117.65

13 M.R.S. OIL& GAS CO. LTD. 23-Apr-21 22-Jul-21 TEXAS QIL MPN JV COS/04/COMD/DSDP/036/2021 950,017 66.4330 63,112,479.36 382.54 24,143,047,854.76 18.5 11,675,808.68 4,466,463,853.13

TOTAL (JV) CRUDE 6,812,705 65.7296 447,796,109 171,322,326,438 85,837,499.06 32,840,757,446.38

GAS REVENUE (JV /PSC)

1 NLNG 15-Jun-21 13-Jul-21 PIPELINE FEEDSTOCK TEPNG JV 150019501/502TEPNG 9,383,678 1.5280584 14,338,808.36 384.27 5,509,973,888.50 5 716,940.42 275,498,694.42

2 CURZON GLOBAL RESOURCES LTD. 24-Jun-21 24-Jul-21 TORM MALAYSIA PENTANE PLUS MPN JV GS/06/011/2021 33,000 612.1600000 20,201,280.00 384.27 7,762,745,865.60 5 1,010,064.00 388,137,293.28

2 CURZON GLOBAL RESOURCES LTD. 24-Jun-21 24-Jul-21 TORM MALAYSIA PENTANE PLUS MPN JV Credit Note (250,000.00) 384.27 (96,067,500.00) 5 (12,500.00) (4,803,375.00)

3 NLNG 15-Jun-21 13-Jul-21 PIPELINE FEEDSTOCK TEPNG JV MCA (2,505,987.48) 384.27 (962,975,808.94) 5 (125,299.37) (48,148,790.45)

4 NLNG 15-Jun-21 13-Jul-21 PIPELINE FEEDSTOCK SPDC JV 1800026366/SPDC 28,429,461 1.3980811 39,746,691.73 384.27 15,273,461,231.09 7 2,782,268.42 1,069,142,286.18

5 NLNG 15-Jun-21 13-Jul-21 PIPELINE FEEDSTOCK SPDC JV Credit Note (7,572,103.92) 384.27 (2,909,732,373.34) 7 (530,047.27) (203,681,266.13)

6 STOCKGAP FUELS LTD. 29-Jun-21 29-Jul-21 QUEEN ZENOBIA BUTANE MPN JV GS/06/NGCL/011/2021 7,001 568.2800000 3,978,528.28 410.37 1,632,668,650.26 5 198,926.41 81,633,432.51

TOTAL GAS 37,853,139.97 67,937,216.97 26,210,073,953.17 4,040,352.60 1,557,778,274.81

PSC / SC REVENUE

1 384.27 - 20 - -

PSC / SC - - - - -

OTHER INCOME

1 INTEREST JULY 500.26 384.27 192,234.91 0

2 N-GAS LIMITED JULY 1,201,793.12 384.27 461,813,042.22 0 - -

3 SOUTHERN HYDROCARBON RESOURCES JULY 1,934,061.44 384.27 743,201,789.55 0 - -

4 SOUTHERN HYDROCARBON RESOURCES JULY 1,289,374.29 384.27 495,467,858.42 0 - -

5 N-GAS LIMITED JULY 3,686,223.95 384.27 1,416,505,277.27 0 - -

6 SOUTHERN HYDROCARBON RESOURCES JULY 3,993,294.39 384.27 1,534,503,235.25 0

7 SOUTHERN HYDROCARBON RESOURCES JULY 2,662,196.26 384.27 1,023,002,156.83 0

8 INTEREST JULY 74.90 384.27 28,781.82 0 - -

9 GREEN ENERGY INTERNATIONAL LIMITED JULY 1,000,000.00 384.27 384,270,000.00 0 - -

CHEVRON JVC JULY 83,223,311.75 384.27 31,980,222,006.17 0

10 CHEVRON JVC JULY 623,747.75 384.27 239,687,547.89 0 - -

11 NLNG Sales ( Arrears) JULY 1,785,488.62 384.27 686,109,712.01 0 - -

11 384.27 - 0 - -

14 DOMESTIC GAS & OTHER MISCELLANEOUS INCOME 33,908,039,074.89

101,400,066.73 72,873,042,717.23

TOTAL 617,133,393.00 270,405,443,108.85 89,877,851.66 34,398,535,721.19

check exec summary270,405,443,108.85

CRUDE OIL & GAS SALES AND REVENUE


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)Appendix N

PIPELINE REPAIRS AND MANAGEMENT COSTS

23

Jul-21

NAIRA

1 Security and Maintenance 2,708,696,053.14

2 Pipeline and other Facilities Repairs 392,950,386.47

3Marine Distribution -

4 Pipeline Management cost -

5 Strategic Holding 557,410,203.01

TOTAL 3,659,056,642.62

S/N

PIPELINE REPAIRS AND MANAGEMENT COSTS

DETAILS



Appendix OFAAC DISTRIBUTION IN JUNE 2021

24

Export Crude Export Gas JV Proceed JV Proceed Dom Crude Miscellanous Income Dom Gas & Misc Total

US$ US$ US$ Naira Naira Naira Naira Naira

1,000,074.90 60,560,341.02 116,747,928.37 1,632,668,650.26 55,708,263,766.88 27,112,703,523.02 6,795,335,551.87 159,767,518,952.35

NNPC(Profit) 1,632,668,650.26 31,738,856,064.32 27,112,703,523.02 6,795,335,551.87 67,279,563,789.47

FIRS*PPT -

FIRS*CITA -

DPR -

Total to Federation Acct - - - 1,632,668,650.26 31,738,856,064.32 27,112,703,523.02 6,795,335,551.87 67,279,563,789.47

T1 and T2 4,275,322.15 116,747,928.37 23,969,407,702.56 70,475,012,178.78

National Domestic Gas Development 6,575,476.82 2,526,758,476.12

Gas Infrastructure Development 1,000,074.90 6,746,102.53 2,976,623,600.35

Crude Oil Pre-Export Inspection Agency Expenses(NESS

FEES) 1,303,313.05 - 500,824,106.95

Frontier Exploration Services 6,357,624.65 2,443,044,424.14

Renewable Energy Development(RED) 387,815.10 - 149,025,709.87

Pre-Export Financing 13,011,684.49 5,000,000,000.00

Refinery Rehabilitation 21,686,140.82 8,333,333,333.33

Nigeria Morocco Pipeline 216,861.41 83,333,333.33

Total T1&T2 & Priority Project 1,000,074.90 60,560,341.02 116,747,928.37 - 23,969,407,702.56 - - 92,487,955,162.88

Total 1,000,074.90 60,560,341.02 116,747,928.37 1,632,668,650.26 55,708,263,766.88 27,112,703,523.02 6,795,335,551.87 159,767,518,952.35

AVAILABLE IN ACCOUNTS

Distribution for July, 2021 Funding (August 2021 FAAC)



Appendix PNNPC VALUE SHORT FALL-JUNE, 2021

25

MONTH DSDP SUPPLIER PRODUCT LAYCAN PRODUCT NORPRODUCT

BLDate PRODUCT BL QTY (MT)

OUTTURN QTY

(MT)

PLATTS QUOTES

($/MT)

DEEMED PLATTES

QUOTE ($/MT)

DSDP

PREMIUM/DIS

COUNT

($/MT)

DSDP UNIT COST

($/MT)FX RATE

COST OF

SUPPLY

(N/L)

TRANSFER PRICE

TO PPMC/RETAIL

(N/L)

DSDP UNIT

UNDER/OVER

RECOVERY (N/L) DSDP

TRANSFER POINT

DSDP OVER/UNDER RECOVERY

ESTIMATES (NAIRA)

Jun-21 MRS OIL & GAS 27-29/06/21 29-Jun-21 14-Jun-21 89,805.264 89,805.264 682.100 18.00 700.100 384.270 200.617 123.970 (76.65) (9,230,510,757.61)

Jun-21 ASIAN OIL & GAS/ EYRIE ENERGY/ MASTERS ENERGY/CASIVA LTD.25-27/06/21 27-Jun-21 8-Jun-21 38,335.205 38,335.205 673.200 18.00 691.200 384.270 198.067 123.970 (74.10) (3,809,142,261.43)

Jun-21 SAHARA 11-13/06/21 11-Jun-21 23-May-21 94,489.211 94,489.211 648.100 18.00 666.100 384.270 190.874 123.970 (66.90) (8,477,407,977.65)

Jun-21 LITASCO/BRITTANIA-U 04-06/06/21 6-Jun-21 20-May-21 59,999.691 59,999.691 644.700 18.00 662.700 384.270 189.900 123.970 (65.93) (5,304,700,480.65)

Jun-21 LITASCO/BRITTANIA-U 09-11/06/21 10-Jun-21 26-May-21 38,016.565 38,016.565 658.400 18.00 676.400 384.270 193.826 123.970 (69.86) (3,561,273,805.78)

Jun-21 ASIAN OIL & GAS/ EYRIE ENERGY/ MASTERS ENERGY/CASIVA LTD.20-22/06/21 22-Jun-21 5-Jun-21 54,998.986 54,998.986 671.600 18.00 689.600 384.270 197.608 123.970 (73.64) (5,431,070,558.96)

Jun-21 MRS OIL & GAS 08-10/06/21 10-Jun-21 25-May-21 89,958.676 89,958.676 652.800 18.00 670.800 384.270 192.221 123.970 (68.25) (8,233,431,027.80)

Jun-21 MOCOH SA/MOCOH 12-14/06/21 14-Jun-21 30-May-21 36,997.945 36,997.945 668.650 18.00 686.650 384.270 196.763 123.970 (72.79) (3,611,569,681.33)

Jun-21 MOCOH SA/MOCOH 20-22/06/21 22-Jun-21 4-Jun-21 88,986.502 88,986.502 671.200 18.00 689.200 384.270 197.494 123.970 (73.52) (8,773,685,031.46)

Jun-21 BONO ENERGY/ETERNAPLC/ ARKLEEN/ AMAZON 31/05-02/06/21 2-Jun-21 16-May-21 37,994.083 37,994.083 650.250 18.00 668.250 384.270 191.490 123.970 (67.52) (3,440,148,409.26)

Jun-21 BONO ENERGY/ETERNAPLC/ ARKLEEN/ AMAZON 16-18/06/21 18-Jun-21 2-Jun-21 37,995.645 37,995.645 670.950 18.00 688.950 384.270 197.422 123.970 (73.45) (3,742,538,052.28)

Jun-21 VITOL/CALSON/HYSON 28-30/06/21 30-Jun-21 12-Jun-21 59,985.720 59,985.720 682.100 18.00 700.100 384.270 200.617 123.970 (76.65) (6,165,549,869.81)

Jun-21 VITOL/CALSON/HYSON 03-05/06/21 30-Jun-21 12-May-21 35,226.295 35,226.295 658.150 18.00 676.150 384.270 193.754 123.970 (69.78) (3,296,488,803.95)

Jun-21 GUNVOR/AY MAIKIFI 08-10/06/21 9-Jun-21 23-May-21 59,987.693 59,987.693 648.100 18.00 666.100 384.270 190.874 123.970 (66.90) (5,381,991,677.32)

Jun-21 GUNVOR/AY MAIKIFI 17-19/06/21 17-Jun-21 31-May-21 37,892.768 37,892.768 668.650 18.00 686.650 384.270 196.763 123.970 (72.79) (3,698,918,198.03)

Jun-21 CEPSA/OANDO 22-24/06/21 24-Jun-21 8-Jun-21 37,994.865 37,994.865 673.200 18.00 691.200 384.270 198.067 123.970 (74.10) (3,775,324,691.46)

Jun-21 CEPSA/OANDO 27-29/06/21 29-Jun-21 10-Jun-21 59,998.445 59,998.445 676.450 18.00 694.450 384.270 198.998 123.970 (75.03) (6,036,596,427.49)

Jun-21 MATRIX ENERGY/PETRATLANTIC /UTM OFFSHORE LTD./LEVENE15-17/6/21 16-Jun-21 31-May-21 59,999.733 59,999.733 668.650 18.00 686.650 384.270 196.763 123.970 (72.79) (5,856,898,716.68)

Jun-21 MATRIX ENERGY/PETRATLANTIC /UTM OFFSHORE LTD./LEVENE21-23/06/21 21-Jun-21 5-Jun-21 38,015.352 38,015.352 671.600 18.00 689.600 384.270 197.608 123.970 (73.64) (3,753,961,191.86)

Jun-21 DUKE OIL 16-18/06/21 17-Jun-21 3-Jun-21 60,805.691 60,805.691 671.150 18.00 689.150 384.270 197.479 123.970 (73.51) (5,993,955,588.76)

Jun-21 DUKE OIL 13-15/06/21 14-Jun-21 27-May-21 37,966.435 37,966.435 662.150 18.00 680.150 384.270 194.900 123.970 (70.93) (3,611,258,333.53)

Jun-21 MERCURIA/ BARBEDOS/RAINOIL LTD./PETROGAS ENERGY 14-16/06/21 15-Jun-21 26-May-21 59,773.888 59,773.888 658.400 18.00 676.400 384.270 193.826 123.970 (69.86) (5,599,432,289.69)

Jun-21 MERCURIA/ BARBEDOS/RAINOIL LTD./PETROGAS ENERGY 06-08/06/21 6-Jun-21 24-May-21 37,970.131 37,970.131 648.100 18.00 666.100 384.270 190.874 123.970 (66.90) (3,406,614,237.17)

Jun-21 BPOIL/AYM SHAFA 12-14/06/21 12-Jun-21 28-May-21 37,994.308 37,994.308 666.550 18.00 684.550 384.270 196.161 123.970 (72.19) (3,678,157,946.12)

Jun-21 BPOIL/AYM SHAFA 23-25/06/21 23-Jun-21 8-Jun-21 37,993.787 37,993.787 673.200 18.00 691.200 384.270 198.067 123.970 (74.10) (3,775,217,576.99)

Jun-21 TRAFIGURA/AA RANO 25-27/06/21 27-Jun-21 8-Jun-21 59,891.834 59,891.834 673.200 18.00 691.200 384.270 198.067 123.970 (74.10) (5,951,096,805.25)

Jun-21 TRAFIGURA/AA RANO 28-30/06/21 30-Jun-21 13-Jun-21 37,983.483 37,983.483 682.100 18.00 700.100 384.270 200.617 123.970 (76.65) (3,904,080,148.83)

Jun-21 SAHARA 29/06-01/07/21 29-Jun-21 30-May-21 59,265.858 59,265.858 668.650 18.00 686.650 384.270 196.763 123.970 (72.79) (5,785,261,205.47)

Jun-21 Total 1,486,324.059 1,486,324.059 665.798 18.000 683.798 384.270 195.946 123.970 -70.800 (143,286,281,752.62)


Govt &NNPC Take Sensitivity at Different Oil Prices Using 2016f JV Technical Cost of $27.93/bbl)Appendix Q

FUNDING PERFORMANCE JAN-July, 2021

26

Annual Mth YTD (7) January February March April May June July YTD Variance

A B C D E F G H I J K=(D+E…+J) K=(C-K)

Gross Revenue: NNPC 4,979.29 414.941 2,904.588 195.624 191.194 224.589 156.366 320.315 295.396 270.405 1,653.890 (1,250.698)

T1/T2 2,072.000 172.667 1,208.667 83.297 79.560 87.553 75.891 124.330 56.671 70.475 577.778 (630.889)

National Domestic Gas Development 80.705 6.725 47.078 3.171 3.099 6.116 2.534 4.413 0.889 2.527 22.749 (24.329)

Gas Infrastructure Development 60.920 5.077 35.537 2.393 2.339 2.748 - 3.919 3.308 2.977 17.684 (17.853)

Brass LNG Gas Supply Projects - - - - - - - - - - - -

Crude Oil Pre-Export Inspection Agency

Expenses(NESS FEES) 10.250 0.854 5.979 0.403 0.394 0.462 - 0.659 0.557 0.501 2.975 (3.004)

Frontier Exploration Services 50.000 4.167 29.167 1.964 1.920 2.255 - 3.216 2.715 2.443 14.514 (14.652)

Renewable Energy Development(RED) 3.050 0.254 1.779 0.120 0.117 0.138 - 0.196 0.166 0.149 0.885 (0.894)

Pipeline Security & Maintenance cost 29.682 2.474 17.315 - 5.813 5.320 2.641 5.258 6.174 7.352 32.558 15.243

Pre-Export Financing 60.000 5.000 35.000 5.000 - 10.000 5.000 5.000 5.000 5.000 35.000 -

Under-Recovery of PMS/Value Shortfall - - - - 25.374 60.396 61.966 126.298 164.337 103.286 541.659 541.659

Refinery Rehabilitation 100.000 8.333 58.333 8.333 8.333 8.333 8.333 8.333 8.333 8.333 58.333 -

Nigeria Morocco Pipeline 1.000 0.083 0.583 0.083 0.083 0.083 - 0.083 0.083 0.083 0.500 (0.083)

Total Deductions (incl T1/T2 + Other Deductions) 2,467.607 205.634 1,439.438 104.765 127.033 183.405 156.366 281.707 248.234 203.126 1,304.636 (134.802)

Net Revenue to FAAC 2,511.687 209.307 1,465.151 90.860 64.161 41.184 - 38.608 47.162 67.280 349.254 (1,115.896)

Total Distribution 4,979.294 414.941 2,904.588 195.624 191.194 224.589 156.366 320.315 295.396 270.405 1,653.890 (1,250.698)

Description

2021 MONTHLY ACTUAL NNPC OIL & GAS REVENUE AND DISTRIBUTION TO FAAC

(=N= Billion)

BUDGET ACTUAL

Documents

NNPC JUNE 2021 CRUDE OIL AND GAS SALES AND …