NNPC targets 250,000bpd crude oil by 2015

The Nigerian National Petroleum Corporation (NNPC) is targeting an exploration level of 250,000 barrels  from its upstream portfolio by 2015. Speaking during a visit by the management of Technip Group led by its Senior Vice President, Mr. Philippe Barril, to the Group Managing Director of the NNPC, Mr Austen Oniwon, in Abuja, last week. Oniwon said “the new NNPC is focusing on developing its upstream portfolio to grow production to 250,000 barrels per day by 2015, opening up of the inland basins, fixing of the refineries, expansion of local refining capacity through the construction of three Greenfield refineries, establishment of petrochemical and fertiliser plants and the construction of gas infrastructure for gas-to-power projects aimed at realising the Federal Government’s ambition to raise power production to 40,000 megawatts.”

Meanwhile, Technip Group has indicated interest to partner the NNPC in its core area of operation.

Mr. Barril who led a delegation of Technip Group’s executives on the visit said the NNPC could count on them as they are keen on developing a long term relationship with the corporation.

Mr. Barril said Technip had been in Nigeria for 10 years, developing engineering capabilities of major players in the oil and gas sector, stating that his delegation’s visit was also to enable them hear from the NNPC on its policy and plans so that they can plan effectively.

In his reaction, Oniwon briefed them on the changes anticipated in the Nigerian oil and gas sector as a result of the Nigerian Content Development Act and the Petroleum Industry Bill, which he said would be passed within the life of the current administration.

Speaking on the PIB,  Oniwon said it would not only change the way business is conducted in the industry, but it would bring a lot of changes to the operations of the corporation which would be re-focused as profit-driven commercial entity independent of the government.

“Transformation within the corporation is already on in preparation for the passage of the PIB as we are expected to hit the ground running”, he said.

He urged Technip to partner with NNPC to deliver on the projects.

The Technip delegation was made up of the Chairman, Technip Offshore, Alain Meyer; the Managing Director/Chief Executive Officer, Technip Offshore, Franck Pliya, and the Chief Operating Officer, NEPTUNE/ Nigerian Content Manager, George Uduku.

Source : Tribune