Skip Ribbon Commands
Skip to main content
SharePoint

Press Releases

Dec 20
QUALITY AND BUSINESS CONTINUITY POLICY

Nigeria’s economy primarily depends on its oil and gas revenue. Thus, the role of NAPIMS in managing the nation’s upstream oil and gas investments through Joint Venture Agreements, Production Sharing Contracts and Service Contracts require high sense of responsibility, collaboration and diligence. It is therefore necessary to affirm performance excellence via innovative process improvements in all operations of NAPIMS and promote leading global practices that align with Transparency, Accountability and Compliance.

Accordingly, through an effectively implemented Quality and Business Continuity Management Systems sanctioned by ISO9001:2015 (QMS) and ISO22301:2019 (BCMS), NAPIMS shall insist on:

- Best practice stakeholder management that ensures value addition
- Improved efficiency and effectiveness through innovation and technology
- Satisfaction of internal and external customers
- Continual improvement of all activities, projects, and programs
- Compliance with all statutory, regulatory, and contractual requirements
- Robust business impact analysis and risk assessment at all levels
- Competent and adequately enabled workforce.

Whilst focusing on maximizing the benefits of the nation’s hydrocarbon resources for all stakeholders, sustainable development of NAPIMS shall be ensured through clearly defined objectives, visionary leadership, adequate resource deployment and emplacement of a conducive environment.


Bala Wunti
Group General Manager

5th January, 2021


Dec 20
OML 143: NNPC, SEEPCO Sign Gas Development Agreement to Unlock 1.2TCF

The gas development and commercialization programme of the Nigerian National Petroleum Corporation (NNPC) received a boost Thursday with the execution of the Oil Mining Lease (OML) 143 Gas Development Agreement (GDA) by the NNPC and its partner, Sterling Oil Exploration and Production Company (SEEPCO).

A statement by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, disclosed that the project would boost the nation's gas production by 1.2trillion cubic feet (tcf).

Speaking at the GDA signing ceremony which held at the NNPC Towers, Abuja, the Group Managing Director of the NNPC, Mallam Mele Kyari, said the gas commercialization strategy of the Corporation was in sync with the Federal Government's National Gas Expansion Programme (NGEP), adding that the gas from the project would be processed at the Ashtavinayak Hydrocarbon Limited (AHL) 125million standard cubic feet (mmscf) of gas per day gas plant located in Kwale, Delta State.

"This opens a gateway for other opportunities in the Oil and Gas Industry, not just SEEPCO Group but for other companies too. We are happy that this will unlock significant volumes of gas which will deliver 125mmscfd to the Midstream plant that you have built. Of course, this is a great milestone for us and we are happy to do business with you. You are a very reliable partner because when you say things, you get them done," Mallam Kyari stated.

He said the development of OML 143 would bring value for the Federal Government, NNPC and SEEPCO Group which would in turn boost the nation's economy.

On his part, the Group Managing Director of SEEPCO, Mr. Tony Chukwueke, said the OML 143 GDA is a major milestone for the country because it was the first Agreement in Nigeria that fully separates gas development from oil production, noting that the arrangement would enable wholistic development of the gas potential in the block.

He further explained that the GDA was a significant step as it was the first of its kind to expressly include terms that encourage the contractor to be effective in its cost management thereby passing on significant revenue to the Federal Government, NNPC and other stakeholders.

"I will like to take this opportunity to thank the GMD, NNPC for his contribution to Nigeria and also recommit that SEEPCO is determined to play its role in the energy industry in Nigeria," Tony Chukwueke reassured.

The Gas Development Agreement is required, pursuant to the Production Sharing Contract obligations, to set out the terms for the development of the 1.2tcf Non-Associated Gas oil block by SEEPCO which is the Contractor with the NNPC is the Concessionaire.

The additional gas supply from the project would raise the nation's gas production profile, make dry gas available for the proposed 650 megawatts NNPC/SEEPCO Independent Power Plant, boost in-country supply of Liquefied Petroleum Gas (LPG) and general domestic gas utilization, increase energy security, and create job opportunities for Nigerians.

 

Dr. Kennie Obateru

Group General Manager

Group Public Affairs Division

Nigerian National Petroleum Corporation

NNPC Towers, Abuja.   


Jan 21
Kyari Mourns Festus Marinho, Pioneer MD of NNPC

​…Says His Achievements Will Be Beacon of Inspiration for Generations 


The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has lamented the death of the pioneer Managing Director of the Corporation, Chief Festus Remi Ayodele Marinho.
A press release by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, stated that Chief Marinho, who passed away yesterday, was the first and only Managing Director of the defunct Nigerian National Oil Corporation (NNOC) - the forerunner of NNPC - and the only one who served twice as Group Managing Director of NNPC having served from 1977-1979 and 1984-1985 respectively. His last appointment was made by President Muhammadu Buhari as Head of State.
In a condolence message to the family of the late NNPC boss, Mallam Kyari described Chief Marinho as “the Father of Oil & Gas Industry in Nigeria” because of the pioneering roles he played in the crafting of the institutional framework, infrastructural development and international best practices being used in the Corporation till date.  
“His role in refinery and pipeline construction and human capacity development are all testimonies of his contribution to national development,” Mallam Kyari stated.
He said Chief Marinho’s visionary leadership provided the foundation for what has come to be known as “Nigerian content”, adding that his achievements in the Corporation would be a beacon and inspiration for many future generations of staff and leaders. 
“He was indeed a rare gem and we will surely miss his wisdom and wealth of experience,” the GMD stated.

Dr. Kennie Obateru
Group General Manager
Group Public Affairs Division,
Nigerian National Petroleum Corporation
NNPC Towers, Abuja.
20th January 2020. 


Oct 15
NNPC Releases 2019 Audited Financial Statement, Reduces Loss by 99.7%

Barely five months after publishing its 2018 Audited Financial Statement, the Nigerian National Petroleum Corporation (NNPC) has released its 2019 Audited Financial Statement with a 99.7% reduction in its loss profile from ₦803bn in 2018 to ₦1.7bn in 2019.

A statement by the Corporation's spokesman, Dr. Kennie Obateru, quoted the NNPC Chief Financial Officer (CFO), Mr. Umar Ajiya, as saying that the 2019 Audited Financial Statement, which was concluded five months after the release of the 2018 Audited Financial Statement, will be published on the Corporation's website for all to see in keeping with Management's commitment to transparency and accountability and in consonance with the principles of the Extractive Industries Transparency Initiative (EITI) of which it is a partner.

Giving further insight into the 2019 AFS, the CFO disclosed that general administrative expenses also witnessed a 22% dip from ₦894bn in 2018 to ₦696bn in 2019.

According to Ajiya, majority of the subsidiaries posted improved performance namely, the Nigerian Petroleum Development Company Limited (NPDC) which recorded ₦479Billion profit in 2019 compared to ₦179Billion in 2018 representing 167% increase; the Integrated Data Services Limited (IDSL) recorded ₦23Billion profit in 2019 compared to ₦154Million in 2018 representing 14966% increase; the Petroleum Products Marketing Company (PPMC) recorded ₦14.2Billion profit in 2019 compared to ₦9.3Billion in 2018 representing 52% increase; while the Refineries have maintained the same level of losses as in 2018 but which will reduce significantly in 2020 due to cost optimization drive.

The CFO explained that the improved performance in the 2019 financial year was driven mainly by cost optimization, contracts renegotiation and operational efficiency. He said “the 2019 AFS goes further to demonstrate our unwavering commitment to the principle of Transparency, Accountability and Performance Excellence (TAPE) while the outlook for 2020 looks promising in view of the Management’s strong drive to prune down running cost and grow revenues.” 

It would be recalled that the Group Managing Director of NNPC, Mallam Mele Kyari, had promised to sustain the publication of the Corporation's Audited Financial Statement as part of efforts to deepen transparency and accountability and keep stakeholders abreast of NNPC operations.

Dr. Kennie Obateru
Group General Manager 
Group Public Affairs Division 
Nigerian National Petroleum Corporation 
NNPC Towers, Abuja.


About this blog
No, this isn't actually my picture. I just haven't gotten around to updating this section. It's good to know that someone is reading every last word though. Thanks!