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Tag: NNPCL

  • NNPC Ltd, First E&P Achieve 20,000bpd Production at OML 85

    NNPC Ltd, First E&P Achieve 20,000bpd Production at OML 85

     

     

    By Biola Lawal

    Abuja (Flowerbudnews):  The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its Joint Venture partner in OML 85, First Exploration and Petroleum Development Company Limited (First E&P), have commenced oil production from the asset, also known as Madu Field.

    Olufemi Soneye Chief Corporate Communications Officer
    NNPC Ltd, said in a statement on Friday that production from the field which is located in shallow waters offshore Bayelsa State and operated by First E&P is expected to be at an average of 20,000 barrels per day.

    The achievement is a testament to the commitment of the President Bola Tinubu administration to optimise production from the nation’s oil and gas assets through the provision of an enabling environment for existing and prospective investors.

    Speaking on the development, the Group Chief Executive Officer of NNPC Ltd., Mr. Mele Kyari, described the commencement of oil production at the Madu Field as a significant milestone that will contribute to the larger goal of meeting the production required to drive revenue growth and boost the nation’s economy.

    Kyari, who commended stakeholders for their support, also explained that the addition of 20,000 barrels per day by an indigenous oil player signals the commitment of stakeholders to achieving economic development for Nigeria.

    It would be recalled that the Final Investment Decision (FID) on the development of the Madu Field and a sister field, Anyala, was taken by the NNPC Ltd./First E&P JV in 2018.

    Production from the Madu Field will be processed at the JV’s Abigail-Joseph Floating Production Storage and Offloading (FPSO) Unit, which has a crude oil storage capacity of up to 800,000 bbls. (Flowerbudnews)

  • Tinubu appoints NNPCL board, management team

    Tinubu appoints NNPCL board, management team

     

    By Ismail Abdulaziz
    Abuja: President Bola Tinubu has approved the appointment of a new Board and Management team for the Nigerian National Petroleum Company Limited (NNPCL) with effect from Dec. 1.

    A statement issued by Chief Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, announced this on Monday in Abuja.

    He said that this was in compliance with Section 59 (2) of the Petroleum Industry Act, 2021.

    The appointees are: Chief Pius Akinyelure — Non-Executive Board Chairman, Malam Mele Kolo Kyari — Group Chief Executive Officer, and Alhaji Umar Isa Ajiya — Chief Financial Officer.

    Others are Mr Ledum Mitee — Non-Executive Director, Mr Musa Tumsa — Non-Executive Director, and Mr Ghali Muhammad — Non-Executive Director.

    The rest are Prof. Mustapha Aliyu — Non-Executive Director, Mr David Ogbodo — Non-Executive Director, and Ms Eunice Thomas — Non-Executive Director.

    He said that the president also approved the appointment of two Permanent Secretaries.

    They are Mr Okokon Ekanem Udo for Federal Ministry of Finance and Amb. Gabriel Aduda for Federal Ministry of Petroleum Resources.

    Tinubu urged the appointees to comply with the performance-driven and results-oriented mandate of his Renewed Hope administration in the implementation of energy policy.

    “This will monetise all available oil and gas resources of today while paving the way for the total exploitation of new and cleaner energy sources of tomorrow by this distinguished team,” the statement said. (NAN) (www.nannews.ng) /Flowerbudnews

  • Pipelines rehabilitation contracts award based on industry norms – NNPC Ltd

    Pipelines rehabilitation contracts award based on industry norms – NNPC Ltd

    By Emmanuella Anokam

    Abuja: The Nigerian National Petroleum Company Limited (NNPC Ltd) has clarified that the contracts for pipeline rehabilitation were awarded based on evaluation criteria and in accordance with industry standards.

    The management of the NNPC Limited made this known in a statement on Sunday while reacting to reports in some sections of the media alleging underhand dealings in the contract award.

    It said the contracts, which were advertised, were awarded based on rigorous evaluation criteria and in line with industry norms.

    “The attention of the NNPC Ltd has been drawn to reports in an isolated sections of the media alleging underhand dealings in the award of contracts for the rehabilitation of pipelines across the country.

    “It is crucial to provide accurate information to address any misconceptions and ensure transparency in our operations.

    “We would like to state categorically that these reports are fallacious and designed to bring the good name of the Company into disrepute.

    “NNPC Limited is deeply committed to adhering to the highest standards of transparency and global best practices in all our activities, and this includes our contracting process,” it said.

    The NNPC Limited, while re-emphasising its commitment to transparency, said it subjected the selection process to a competitive tender guided by Bureau of Public Procurement standards, Infrastructure Concession Regulatory Commission expertise, and the active involvement of a Transaction Advisor.

    It said it also had representations from NEITI and the Ministry of Justice in the project development team and the evaluation exercise.

    It listed the composition of Consortium members per lot spread across Nigeria.

    “LOT 1: Oilserve Ltd, Chu Kong Steel Pipe Group Company Ltd, Saudi Crown Oilserve.

    “LOT 2: MacReady Oil and Gas Services, COBRA Instalicios S.A, Control Y Montajes Industriales and International De Pipelines, Iron Products Industries Ltd, Batelitwin Global Services Ltd, Bauen Empresa Constructora SAU, Sanderton Energy Ltd, The Spanish National Association of Manufacturers.

    “LOT 3: A A Rano, Zakhem Construction Nigeria, Bablinks Resources Ltd, VAE Controls S.R.O and LOT 4: MRS Oil and Gas, CPPE Nigeria Ltd

    “It is imperative to emphasise that these contracts are Build, Operate and Transfer agreements, and selected partners are to finance the rehabilitation and do not entail the transfer of control of these assets to any particular company,” it said.

    It said its objective was to enhance the integrity and functionality of the pipelines to facilitate the efficient transportation of crude oil to refineries and the distribution of its products across the country.

    According to the NNPC management, the ownership of these strategic national assets remains with NNPC Limited, and are fully committed to ensuring their continued operation in the interest of over 200 million Nigerians.

    It would be recalled that some sections of the media recently alleged that NNPC Ltd had awarded juicy rehabilitation contracts of the nation’s pipelines to four oil companies, including two downstream retailers. (NAN)(www.nannews.ng) / Flowerbudnews