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NNPC, NPDC pledge efficient management of oil blocks

24 June 2013, 09:10

Abuja - The NNPC and its subsidiary, the Nigerian Petroleum Development Company (NPDC), have pledged to ensure professional management of assets and oil mining leases acquired from the Shell Petroleum Development Company (SPDC).

This is contained in a statement issued by the acting Group General Manager, Public Affairs of NNPC, Tumini Green, on Sunday in Abuja.

The statement quoted the Group Managing Director of the Corporation, Andrew Yakubu, as making the pledge after the NNPC/NPDC board meeting on Saturday in Warri, Delta State.

Yakubu said the corporation was repositioning its exploration and production subsidiary, the NPDC, to ensure that acquired assets from the International Oil Companies (IOCs) are productive so as to boost the nation's revenue flow.

"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.

"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 development and capability development of the upstream activities in Nigeria,'' Yakubu said.

Shell and some other IOCs recently divested and transferred some of its Oil Mining Leases (OML) and stake to the NNPC.

Yakubu said that acquiring the OMLs was part of plans to grow and develop the NPDC, and encourage indigenous participation in the nation’s upstream sector.

He said the operation of NNPC/NPDC in Warri had made NPDC the highest local producer of gas to the domestic requirement of Nigeria in line with the Federal Government’s gas to power project.

Yakubu said the transformation drive at the NPDC had made it the biggest indigenous gas supplier on the African continent.

The NNPC boss said that as a socially responsible corporation, the NNPC/NPDC would fast track its activities in the area of providing social amenities such as classroom blocks, educational scholarship, health facilities, roads and water to host communities.

 He said the corporation was committed to going into partnership with the various tiers of government to provide basic amenities to oil communities to guarantee peace, development and to enhance the companies’ operations.

He commended the host communities in Warri for their support for the corporation and NPDC operations in the area, saying it would boost community development efforts in line with international best practice.

The Minister of Petroleum Resources, Mrs Diezani Alison-Maduke, had recently expressed the need for NNPC/NPDC to take over the management of some OMLs to meet the target of producing 250,000 barrels of crude per day in 2015 by NPDC.

 - NAN

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