The Nigerian National Petroleum Corporation (NNPC) and its upstream joint venture partner, ExxonMobil, are seeking new measures to expand existing operational portfolio with a view to increasing crude oil production and availability of gas for power.
Dr. Maikanti Baru, the Group Managing Director of NNPC, disclosed this after a meeting with ExxonMobil’s delegation led by Mr. Jack Williams, Senior Vice-President of the United States-based global oil Corporation
He stated said 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 was quoted in a statement to have said that the corporation had advanced talks with ExxonMobil on major operational issues like improved drilling to increase production and refurbishment of crude oil pipelines as well as supply of gas to the planned Qua Iboe Independent Power Plant among others.
“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,” he said.
Williams noted that ExxonMobil was committed to growing its production in Nigeria “safely and with much integrity’’, adding that his company was set to increase its JV budget for 2018 operations.