ABUJA/GENEVA May 23 Nigeria's state oil company
and a subsidiary of Exxon Mobil plan to tap the bond
market by 2016 to fill a funding shortfall in their oil
exploration joint venture, the companies said.
Exxon and the Nigerian National Petroleum Corporation (NNPC)
operate a joint venture with a capacity of more than 550,000
barrels per day of crude oil, condensate and gas liquids.
"From the years 2013 to 2015, we will continue to use the
external financing option, but by the year 2016 we would switch
to the bond market as an alternative source of funding," Exxon
Nigeria's Chief Financial Officer Segun Banwo was quoted as
saying on NNPC's website on Thursday.