A Review of the Nigerian Energy Industry

NNPC to review all JVs, PSCs with multinational oil companies – Kachikwu

‎…Says reduction in directorate cadre to make Corporation leaner, more efficient
Oscarline Onwuemenyi 17 August 2015, Sweetcrude, Abuja – Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu, has said all Production Sharing Contracts (PSCs), Joint Venture Agreements (JVs) and all other contracts between the NNPC and its various partners, including multinational oil companies, would be reviewed to reflect current day realities in the global oil and gas industry.
Dr.Emmanuel Ibe Kachikwu, NNPC GMD-480x500In a statement signed by the Group General Manager, Group Public Affairs Division of the Corporation, Mr. Ohi Alegbe, and made available to our correspondent in Abuja, the new GMD further clarified that his mandate in the Corporation is to put in place an efficient, transparent and profit-oriented processes and not to embark on a mass retrenchment of the workforce.
Dr. Kachikwu further stated that the mandate given to him by President Muhammadu Buhari is to turn around the entire commercial processes and procedures in order to impact on the growth trajectory and operations of the Corporation.
According to him, the reduction in the directorate from eight (8) to four (4) at the top management cadre of the NNPC is to refocus and sharpen the business aspiration of the Corporation, adding that training and retraining of members of staff to align with the new vision is the next stage of the ongoing reforms.
Dr. Kachikwu reassured that the recent repositioning is to put in place the right set of skills for performance stressing that the new arrangement provides a veritable vista for upcoming professionals in the Corporation to have a speedy career path.
He stated that the NNPC under his watch would put in place mechanisms that would plug all revenue leakages in the upstream, midstream and downstream sectors while adding that all crude oil proceeds due for the Federation Account would be remitted accordingly.
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