The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Austen Oniwon has confirmed that the government took delivery of five blocks from IOCs maintaining that the exploration and production of Nigerian Petroleum Development Company (NPDC) could reach 250, 000 barrels per day in the next three years with the transfer of these five oil blocks to the company.
In the last one year, he said in a statement by the NNPC, “our Exploration and Production arm, the NPDC, has beefed up its production to 70, 000 barrels per day, up from about 50, 000 barrels per day.”
He also assessed his achievements in office in the last one year to include improved gas supply for power generation and the signing of MOU with Xenel of Saudi Arabia and Nagarjuna of India to monetize the nation’s huge gas reserves and generate 60, 000 jobs for Nigerians.
“The contributions of the refineries to national fuel supply in spite of the challenges also form part of my achievements in office in the last one year,” the GMD noted.
The GMD stressed that his achievements in the last one year in office could not have been possible without the positive support and focused leadership of the Honourable Minister of Petroleum Resources, Diezani Allison-Madueke as well as the confidence reposed in him by the President.
“The Minister has played a pivotal role towards a more productive National Oil Company that will meet the yearnings of all Nigerians,” Oniwon said.
The NNPC boss further stated that the passage of the Petroleum Industry Bill (PIB) combined with full deregulation of the downstream sector as well as transfer of upstream and downstream assets to NNPC will present the corporation with unparalleled opportunities to boost its fortunes.
