NNPC pledges better management of transferred assets

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NNPC LogoNNPC/NPDC has expressed its readiness to professionally and efficiently run the assets and oil mining leases transferred to them by SPDC.

NNPC Group Managing Director, Mr. Andrew Yakubu, stated this at the weekend after the board meeting of the NNPC/NPDC in Warri, Delta State.

Through the support of the Minister of Petroleum Resources, Mrs. Diezani Alison-Maduke, the NNPC/NPDC took over the management of some OMLs in the bid to meet the aggressive target of producing 250,000 barrels of crude per day in 2015.

A statement yesterday by acting Group General Manager Group Public Affairs Division, NNPC, Tumini Green, quoted Yakubu as saying that the corporation and NPDC were repositioning to ensure that the acquired assets remain productive to ultimately boost the revenue inflow to the Nigerian economy.

“With the divestment of Shell, NPDC is the top and the only option for indigenous participation that will replace companies like SPDC and other companies that wanted to divest their equities.

“So NPDC, therefore, has taken over this obligation of value addition as the flagship operator of the upstream business of NNPC.

“NPDC is the gateway of capacity and capability development of the upstream activities in Nigeria,” Yakubu said.

He explained that the activities of NNPC/NPDC in Warri have made NPDC the highest local producer of gas for the domestic gas requirement of Nigeria and this has gone a long way in meeting the federal government’s aspiration in the area of power generation.

 

Information from ThisDay was used in this report.