NNPC, ExxonMobil Fortify Strategy to Boost Oil Output

By Dipo Olowookere

The managements of the Nigerian National Petroleum Corporation (NNPC) and its upstream joint venture partner, ExxonMobil, have met to strengthen ways to expand existing operational portfolio with a view to increasing crude oil production and availability of gas for power generation.

On Wednesday, September 6, 2017, a high-powered ExxonMobil delegation led by Mr Jack Williams, Senior Vice-President of the United States-based global oil corporation, had a meeting with the Group Managing Director of NNPC, Dr Maikanti Baru, in Abuja.

Mr Baru said the joint venture with ExxonMobil, which until recently was the highest producer of crude oil in the country, was primed to make a rebound.

He said the corporation had advanced talks with ExxonMobil on major operational issues like improved drilling to increase production and refurbishment of crude oil pipelines as well as supply of gas to the planned Qua Iboe Independent Power Plant among others.

“More importantly we also discussed their recommitment to supply gas to the domestic market and this is something that is very positive and they are willing; we would quickly roll-out the programme to ensure that sufficient gas comes in for the IPP.

“We also secured a commitment from them to end gas flare at QIT and other production areas,” he said.

Describing the meeting as very fruitful, Mr Williams on his part noted that ExxonMobil was committed to growing its production in Nigeria “safely and with much integrity.”

To underscore its aspiration for growth in production, Mr Williams hinted that ExxonMobil was set to increase its JV budget for 2018 operations.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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