NIPS: Oil Found In New Territories With Huge Potentials, Kyari Says

Kyari (right), with the Permanent Secretary of the Ministry of Petroleum Resources, Mr. Bitrus Bako Nabasu (left) at the Nigeria International Petroleum Summit in Abuja Monday

The Nigerian National Petroleum Corporation (NNPC) has said that Nigeria has found oil in new territories with huge potentials.

Group Managing Director of the NNPC, Mr Mele Kyari, disclosed this on Monday at the 3rd edition of the Nigeria International Petroleum Summit (N.I.P.S.) 2020 in Abuja.

He said the NNPC is planning to expand its operational footprints across the globe in a move to enable the corporation boost its global profile.

Kyari stated that though the primary focus of the corporation was to ensure energy security for Nigeria, it had capacity to meet the energy needs of the entire West African sub-region.

He said NNPC was working with its technical partners to restore its three refineries to be able to operate at optimal levels, adding that the Phase 1 of the rehabilitation work on the Port Harcourt Refinery had begun with Phase 2 work in the offing.

“We will continue to support the Dangote refinery and the other modular refinery projects in the country to guarantee energy security for Africa. Nigeria welcomes foreign investors to invest in the oil and gas Industry. 2020 is year of gas. Nigeria will deepen domestic gas use and monetization of our huge gas resources,” Kyari said.

The NNPC helmsman stated that Nigeria was ready and accessible for investments from all interested countries, individuals and partners, assuring that their investments were secured with high returns in the country.

Speaking further at the summit, Mr Kyari assured that NNPC was more than ever committed to improving transparency to win the trust of all its stakeholders as the largest oil corporation in Africa.

Kyari also informed that NNPC was expanding the Escravos-Lagos Pipeline System 2 (ELPS) and building the Ajaokuta-Kaduna-Kano pipeline as part of efforts to expand domestic gas utilization for the benefit of the Nigerian economy.

Also speaking,  Senate President, Dr. Ahmed Lawan, who was represented at the Summit by the Senate Committee Chairman, Upstream, Senator Bassey Akpan, reassured players in the nation’s oil and gas industry of the commitment of the 9th National Assembly to enact legislations that would promote the growth of the nation’s petroleum sector.

The summit with theme: “Widening the Integration Circle: Technology, Knowledge, Sustainability, Partnership”, attracted goodwill messages from the African Petroleum Producers Organization (APPO), Oil Producers Trade Section (OPTS) of the Lagos Chamber of Commerce and other local and international players in the oil and gas industry.



Subscribe To Newsletter



NPC Monthly Report
Click to comment

Contact Us!

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top