Port Harcourt — The Nigerian National Petroleum Corporation, NNPC has tasked investors on the construction of greenfield condensate refineries, in order to meets the country’s aspiration towards becoming net exporter of petroleum products.
The Group Managing Director of NNPC, Mallam Mele Kyari, gave the charge at the ongoing virtual bi-annual Nigerian Oil anc Gas Opportunity Fair, NOGOF 2021, with the theme ‘Leveraging Opportunities and Synergies for Post Pandemic Recovery of The Nigerian Oil & Gas Industry’.
Kyari reiterated the NNPC’s willingness 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 replete 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 he said, include the rehabilitation of existing refineries, as well as construction of LPG and 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 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 utiliisation, it has created more opportunities in the downstream sector especially in LPG and 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 & 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 re-assure 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 boss 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.
Also, the pioneer Executive Secretary of NCDMB, Engr. Ernest Nwapa, noted that the oil and gas industry had experienced remarkable and sustainable growth in the last 15 years through local content and no other sector in the Nigerian economy had recorded comparable development.