IOC’s divestment: NNPCL vows not to hinder process

The Nigerian National Petroleum Company Limited (NNPCL), on Tuesday, said that as the largest partner to all the oil-producing companies in Nigeria, it will not hinder the divestment of the International Oil Companies (IOCs) from onshore and shallow water assets in the country.

It said it would rather facilitate the process.

The Group Chief Executive Officer, Mr. Mele Kyari, made the clarification on Tuesday at the opening ceremony of the seventh edition of the Nigerian International Energy Summit 2024 (NIES 2024), Abuja.

He explained that by virtue of its statutory mandate as the enabler of national energy security, NNPCl’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 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 tunneling 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.

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