IOC’s Divestment: We facilitate, not hinder process – NNPC Ltd.

 

ABUJA, Nigeria – The Nigerian National Petroleum Company Limited (NNPC Ltd), as the largest partner to all the oil producing companies in Nigeria, has assured that its role in the divestment of the International Oil Companies from onshore and shallow water assets in the country is that of a facilitator, and not an obstacle.

The Group Chief Executive Officer, Mr. Mele Kyari, made the clarification at the opening ceremony of the 7th edition of the Nigerian International Energy Summit 2024 (NIES 2024), which held at the State House , Abuja, on Tuesday.

He explained that by virtue of its statutory mandate as the enabler of national energy security, NNPC Ltd.’s role is to ensure that, at the end of the day, there is optimal and sustainable production from the divested assets to guarantee energy security for the benefit of Nigerians.

Kyari also disclosed the company’s willingness to invest in the proposed African Energy Bank as a way of ensuring sustainable funding for energy projects in Africa to guarantee energy security.

On investment in energy infrastructure to drive energy security, the GCEO further disclosed that the completion of the Obiafu-Obrikom-Oben Pipeline was in sight as the tunnelling across the River Niger was currently ongoing.