NNPC, Shell Sustain Ties to Boost Nigeria’s Oil Reserves

By Dipo Olowookere

The managements of the Nigerian National Petroleum Corporation (NNPC) and Shell Petroleum Development Company (SPDC) have agreed to maintain their existing business relationship so as to increase the country’s crude oil reserves.

The decision to sustain the ties between both organisations was taken on Tuesday at the NNPC Towers, Abuja, when Mr Peter Costello, who is the Vice-President of Shell Nigeria and Gabon, led a delegation of his company’s management team to the Group Managing Director of the NNPC, Mr Mele Kyari, to congratulate him on his recent appointment to the position by President Muhammadu Buhari.

Also speaking at the visit, Managing Director of SPDC and Chairman of Shell Companies in Nigeria, Mr Osagie Okunbor, congratulated the NNPC GMD on his appointment while expressing confidence in his ability to steer the industry to enviable height.

Mr Okunbor said Shell was in sync with Mr Kyari’s vision and growth trajectory for the industry as laid out in his blueprint.

He noted with interest the push towards renewed transparency and openness, stating that the essence of the visit was to “underline our unflinching support for you and your team”.

Shell is an age-long partner of the state-owned oil agency and this was acknowledged by Mr Kyari, who assured the energy firm of a more robust relationship for the benefit of the industry.

He said that NNPC would work with Shell to expedite action on some crucial deepwater projects and create enabling environment to entrench the ideals of transparency and enduring governance framework for the industry.

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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