…Pledges support for frontier exploration
The Senate Committee on Petroleum Resources (Upstream) has commended the Nigerian National Petroleum Company Limited (NNPC Ltd) for repositioning the Nigerian oil and gas industry and making it a competitive business environment.
The chairman of the committee, Sen. Bassey Albert Akpan, gave commendation when he led members of the committee on an oversight visit to the NNPC Towers, Abuja.
Akpan said the visit offered the lawmakers the opportunity to have first-hand information about management’s actions in transitioning from a corporation into a limited liability company in compliance with the Petroleum Industry Act (PIA).
“We commend the effort of Mallam Mele Kyari and his team towards repositioning NNPC post-PIA. We’ve been told about the challenges, expectations, projections and visions for the NNPC. We are very impressed that the effort of the National Assembly in passing the PIA is yielding positive outcomes,” Akpan said.
In a statement by the NNPC group general manager, group public affairs division, Garba Deen Muhammad, Akpan said the committee would look into the issue of funding for frontier exploration to ensure that the objective of boosting exploration and production in frontier basins in the next five years is met.
Earlier, Kyari informed the lawmakers that the company is primed to meet the growth trajectory envisaged in the PIA, stressing that it has received very positive commercial assurances from investors and partners across the globe.