The NNPC Upstream Investment Management Services (NUIMS) is an upstream service unit of the Nigerian National Petroleum Company Limited (NNPC) that was officially established on 1st November 2022, through the merging of defunct National Petroleum Investment Management Service (NAPIMS) and a part of the Crude Oil Stock Management (COSM) department of the defunct Crude Oil Marketing Division (COMD) of NNPC as one entity managing the non-operated portfolio of NNPC’s upstream joint ventures and the Federation’s production sharing contracts and service contracts.
Manage Upstream Investments on behalf of NNPC Limited and the Federation.
NUIMS is an investment portfolio management arm of the NNPC that superintends NNPC’s upstream joint venture business and the Nigerian Federation’s interest in the oil and gas sector.
In alignment with best international practices, NUIMS utilizes an asset-based management structure to supervise operations and ensure maximization of return on investments from the joint ventures (JVs), the production sharing contracts (PSCs) and the service contracts (SCs) within its portfolio.
NUIMS is also responsible for administrative supervision of NipeX (Nigerian Petroleum Exchange), which provides electronic platforms for contracting and procurement, such as the e-marketplace and the Joint Qualification System (JQS).
1) Investment Management
Our JV Investment Management (JVIM) and PSC Investment Management (PSCIM) divisions are responsible for monitoring the operations, budget and expenditure of their respective assets as well as management of partner relations to maximize returns on investments.
Key Activities include:
- JV, PSC/SC Venture Governance
- Operations Oversight
- Performance Management
- Contracting & Procurement Management
- Entitlement Allocation
2) Investment Management Support
Our Planning & Commercial (P&C), Finance, Legal, and Business Services (BS) divisions support the JVIM and PSCIM divisions to achieve NUIMS’ strategic objectives through portfolio screening and project evaluation, funding planning & allocation, funding sourcing and cash call administration, and stakeholder management.
Increase crude oil and gas production from non-operated assets sustainably
Enhance operational efficiency and cost optimization
Improve Reserve Replacement Ratio
Strengthen partnerships and collaborations
Promote development, utilization, and commercialisation of gas
Adopt Innovative Technologies
Develop talent
Our corporate social responsibility (CSR) philosophy is rooted in the understanding that our business practices have a profound impact on the environment, society, and the economy. We are committed to conducting our operations with integrity, transparency, and a deep sense of accountability to foster sustainable development and improve the quality of life for the communities we serve.
NUIMS alongside her partners has undertaken a diverse array of Corporate Social Responsibility (CSR) projects, including the establishment of the Institute of Petroleum and Energy Studies at the University of Port Harcourt, Rivers State; a maternal and child referral center in Bama; the Emergency & Infectious Disease Hospital in Maiduguri, Borno State; and an oxygen plant in Lagos State. Additionally, NUIMS has completed the Ogbia-Nembe Road Project in Bayelsa State, and established ICT centers in Bauchi State, the Federal University of Petroleum Resources Effurun (FUPRE) in Delta State, and the Enugu State University of Science and Technology. The organization has also supported numerous health initiatives, such as donating a cancer treatment machine to the National Hospital in Abuja, and multi-million Naira equipment to the General Hospital in Lagos. Other notable projects include the Lagos Vision First Outreach, refurbishing the arrival "E" wing at Murtala Mohammed International Airport in Lagos, and resettlement support for 2,000 displaced persons in Borno. Furthermore, NUIMS has enhanced educational infrastructure with a digital library at the Niger Delta University (NDU) in Amassoma, Bayelsa State, and provided state-of-the-art ICT centers at Ambrose Alli University (AAU) in Ekpoma, Edo State. To bolster security and public safety, NUIMS handed over security vehicles to states like Niger, Bauchi, and Borno, and donated 16 security vehicles in Lagos. They also contributed to healthcare by donating a paediatric ward and lab to a Bauchi community, a 20-bed capacity primary health care facility in Bama LGA, and an ultra-modern lounge for passport services to the Immigration office in Lagos.