NNPC
The Nigerian National Petroleum Corporation is set to explore for crude oil in the Gulf of Guinea in a bid to increase the country’s reserves.
The Group Managing Director of the national oil firm, Dr. Maikanti Baru, said on Thursday that the corporation will also search for crude in other acreages, as it is important to shore up the NNPC portfolio.
Geographically speaking, the Gulf of Guinea is made up of the maritime area located in the western part of the African continent. It includes eight countries bordering the Atlantic Ocean – Ghana, Togo, Benin, Nigeria, Cameroon, Equatorial Guinea, Gabon, Sao Tome and Principe; with Angola and Congo as newest comers.
In a statement issued by the Group General Manager, Group Public Affairs Division, NNPC, Mr. Ndu Ughamadu, the GMD admitted that the NPDC had shown growth in its proven reserves, but emphasised the need to expand the company’s footprints in the upstream sub-sector of the oil and gas industry.
“As part of our 12 business focus areas, we are dedicated to growing the NPDC, thereby increasing our reserves portfolio. We will not relent until the NPDC exceeds its current position of being the seventh largest oil producer in Nigeria,” Baru said.
To achieve this, he stated that the NNPC “would aggressively explore opportunities in other petroleum acreages in Nigeria, and with particular interest in the Gulf of Guinea.”
