By Adedapo Adesanya
The Nigerian National Petroleum Corporation (NNPC) has charged investors on the construction of greenfield condensate refineries in order to meet the country’s goal of becoming a net exporter of petroleum products.
This was one of the talking points at the just concluded bi-annual Nigerian Oil and Gas Opportunity Fair (NOGOF) 2021, with the theme Leveraging Opportunities and Synergies for Post Pandemic Recovery of The Nigerian Oil & Gas Industry.
The Group Managing Director of NNPC, Mr Mele Kyari, noted that the NNPC was willing to partner with investors towards value creation and a fair share of Return on Investment in the exploration of frontier basins, development of upstream gas fields and financing of greenfield/brownfield additional production on de-risked assets.
He assured that the country’s oil and gas sector is filled with opportunities, particularly in gas and power infrastructure development, gas pipeline networks expansion, development of gas-based industries as well as the Integrated Power Plants.
Other areas of opportunities include the rehabilitation of existing refineries as well as the construction of Liquified Petroleum Gas (LPG) and Compressed Natural Gas (CNG) plants across the country, pipelines and storage tank construction as well as developing shipping capacity.
“In the upstream, opportunities abound in the area of exploration of frontier basins, the development of upstream gas fields and the financing of greenfield/brownfield additional production on de-risked assets.
“In gas and power infrastructure development, there are opportunities in expanding our gas pipeline networks, development of gas-based industries as well as the Integrated Power Plants.
“In line with our aspiration towards becoming a net exporter of petroleum products, opportunities abound in the rehabilitation of our existing refineries as well as the construction of greenfield condensate refineries.
“As we strive to deepen domestic gas utilisation, it has created more opportunities in the downstream sector especially in Liquified Petroleum Gas (LPG) and Compressed Natural Gas (CNG) plants across the country. There are also opportunities in the pipeline and storage tank construction; as well as developing shipping capacity.
“In the ventures and business development, we are ready to partner investors in the development of multi-specialist hospitals to strengthen healthcare service availability and support telecommunication infrastructure availability.
“Finally, let me once again reassure you that at NNPC, we are ready to collaborate with investors towards turning opportunities into real value, for the benefit of all, and especially towards taking our Industry to even greater heights.”
The NNPC helmsman further reiterated the corporation’s support and full alignment with NCDMB in its quest to engage Industry professionals, towards achieving its primary mandate of building and supporting the development of local capacities and capabilities in the industry.
Dipo Olowookere