We’ve Made Significant Progress In Basins Exploration – Mele Kyari

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, said significant progress has been made in the ongoing exploration of inland basins.

The NNPC boss  disclosed this while receiving the leadership of the Nigerian Association of Petroleum Explorationist (NAPE) at the NNPC Towers in Abuja on Tuesday, where he noted that the target of growing the nation’s reserve to 40billion barrels by 2023 was realistic and achievable.

The Corporation, according to a statement by its spokesperson, Ndu Ughamadu, was revving up exploration activities in all the frontier basins to achieve the 3 million barrels per day crude oil production target within the shortest possible time.

Kyari was quoted in the statement to have said the national oil company would invest more efforts and resources in the search for hydrocarbons in the frontier basins and the ultra-deep water basin in the Niger Delta in order to grow the nation’s reserve base.

“We promise that we are going to be transparent and accountable to all our stakeholders. We will drive this company to become a company of global excellence through excellent performance. This is very possible and there are strong indications that this is achievable.”

He stated that the Corporation would galvanize its partners in the direction of attaining national goals and aspirations for the economic wellbeing of the nation and its citizens.  

The NNPC helmsman assured that the Corporation, with the collaboration of other arms of the Federal Government, would create a favourable fiscal landscape that would encourage inflow of foreign direct investment into the nation’s oil and gas industry.

On the commercial level, he said NNPC would continue to meet its cash-call obligations to its Joint Venture partners on a sustainable basis to enable the international oil companies go back to exploration, maintaining that the move had already made exploration activities to start blossoming.

The GMD called for the support of NAPE to enable the nation attain the 3 million barrels per day and the 40billion reserve aspiration going forward.

Earlier, President of NAPE, Mr. Ajibola Oyebamiji, congratulated Kyari on his appointment and assured him of the association’s support in growing the nation’s reserve base.

According to Kyari, his management’s focus, themed ‘Transparency and Accountability with Performance Excellence (TAPE)’, is geared towards transforming the Corporation into a global company of distinction as it is the window to the Nigerian oil and gas industry.