07 September 2017, Sweetcrude, Abuja — ExxonMobil, Thursday, said it is set to increase its Joint Venture budget for 2018 operations in Nigeria.
According to a statement from the Nigerian National Petroleum Corporation, NNPC, this was disclosed by Senior Vice-President of ExxonMobil, Mr. Jack Williams, who led a high-powered delegation to a meeting with the Group Managing Director of NNPC, Mr. Maikanti Baru.
Williams described the meeting with the NNPC as very fruitful, while he noted that the planned increase in its 2018 JV budget was part of plans to increase the company’s output in Nigeria.
According to him, ExxonMobil was committed to growing its production in Nigeria ’safely and with much integrity.
Also speaking, Baru said the NNPC had advanced talks with its upstream joint venture partner, ExxonMobil, on major operational issues like improved drilling to increase production and refurbishment of crude oil pipelines as well as the supply of gas to the planned Qua Iboe Independent Power Plant among others.
He noted that the joint venture with ExxonMobil, which until recently was the highest producer of crude oil in the country, was primed to make a rebound.
He said the NNPC and ExxonMobil are seeking new measures to expand existing operational portfolio with a view to increasing crude oil production and availability of gas for power generation.
He said, “More importantly we also discussed their recommitment to supply gas to the domestic market and this is something that is very positive and they are willing.
“We would quickly roll-out the programme to ensure that sufficient gas comes in for the IPP. We also secured a commitment from them to end gas flare at QIT and other production areas.”