IOC’s Divestment: NNPC Ltd role solely as a facilitator rather than an impediment —Kyari

At the 7th Nigerian International Energy Summit 2024 (NIES 2024) held today, February 27, 2024 in Abuja, the Group CEO of the Nigerian National Petroleum Company Limited (NNPC Ltd), Mele Kyari, emphasized that his organization's involvement in the ongoing process of international oil company (IOC) divestment from onshore and shallow-water assets in Nigeria is solely as a facilitator rather than an impediment.

Kyari made these remarks during the summit's opening ceremony at the State House, Abuja, where he highlighted the importance of transparency and collaboration between stakeholders in ensuring a smooth transition towards local ownership and investment within the nation's petroleum sector.

He explained that by virtue of its statutory mandate as the enabler of national energy security, NNPC Ltd.’s role is to ensure that, at the end of the day, there is optimal and sustainable production from the divested assets to guarantee energy security for the benefit of Nigerians.

Kyari, in a press release signed by Olufemi O. Soneye, Chief Corporate Communications Officer, NNPC Ltd., also disclosed the company’s willingness to invest in the proposed African Energy Bank as a way of ensuring sustainable funding for energy projects in Africa to guarantee energy security. 

On investment in energy infrastructure to drive energy security, the GCEO further disclosed that the completion of the Obiafu-Obrikom-Oben Pipeline was in sight as the tunnelling across the River Niger was currently ongoing.

He assured stakeholders of the company’s commitment to work with them to close the energy deficit gap and create prosperity for Nigerians, adding that from all indications, all issues of energy scarcity in the country would be over in the next 10 years.

The event saw the participation of key industry and governmental figures, including Haitham al-Ghais, Secretary-General of OPEC; Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers' Organization; Sen. Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil); Hon. Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas); Amb. Nicholas Agbo Ella, Permanent Secretary of the Ministry of Petroleum Resources; and the Minister of Information and National Orientation, Mohammed Idris Malagi, who represented the Nigerian President, Bola Ahmed Tinubu, among others
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