The managing director of the group of the Nigeria National Petroleum Corporation (NNPC), Malam Mele Kyari, reiterated its commitment to transparency and accountability in the company’s operations.
Kyari said the Nigerian Oil Exploration Association (NAPE) led by its president, Ajibola Oyebamiji, visited him in Abuja on Tuesday.
“This management is focused on four things, and they are easily connected. We promised that we have to be transparent, and accounable to stakeholders.
“And we will drive this company to global excellence, through excellent performance.
“This is very possible and we have seen very significant indication that it is achievable,” he said.
Kyari also revealed that significant progress had been made in the ongoing exploration of the continental basins, adding that the goal of increasing the national reserve to 40 billion barrels by 2023 was realistic and achievable.
He explained that the NNPC was accelerating exploration activities in all the border basins to reach the target of crude oil production of 3 million barrels per day.
According to him, the national oil company will invest more efforts and resources in the search for hydrocarbons in the border basins and in the ultra-deep water basin of the Niger Delta.
Moreover, Kyari has stated that the Corporation will push its partners in the direction of achieving national goals and aspirations for the nation’s economic well-being.
He said that NNPC, in collaboration with other government agencies, would create a favorable fiscal landscape for more foreign direct investment in the nation’s oil and gas industry.
Regarding its commercial activities, GMD has stated that NNPC will continue to meet its cash payment obligations with its Joint Venture partners in a sustainable manner to allow international oil companies to return to exploration.
He asked for support from the NAPE to allow the nation to reach 3 million barrels a day and the reserve aspiration of 40 billion.
Previously, Oyebamiji congratulated Kyari on his appointment and assured him of the association’s support to increase the nation’s reserve base.
He said the current management of the NNPC vision was in conjunction with the vision of the association.