Three Months of Accomplishments
Igniting a historic economic boom: The Group Managing Director of the NNPC, Mallam Mele Kyari’s pro-growth policies are unleashing economic growth and providing opportunities to grow the corporation into one of the best in the world.
Within the last three months leveraging on the values behind his (Transparency, Accountability and Performance Excellence) TAPE blueprint, Mallam Mele Kyari, NNPC’s GMD, sets in motion fresh vista of optimism across the corporations value chain.
The NNPC in a quarterly in-house magazine rolled out ‘Melemeter’ an appraisal of the performance of the GMD.
The MeleMeter
- 75m NPDC OML 65 Alternative Funding and Technical Services package with CMES-OMS Petroleum Development Company- Nigeria to earn fresh $6.35bn in taxes, royalties throughout the duration of the project.
- Resuscitation of Ilorin Depot after eight years of inactivity.
- Resolution of intractable Shell/Belema Oil-OML 25 Community crisis – with restoration of 35, 000 barrels of crude oil per day.
- Clear timeline for delivery of comprehensive rehabilitation of nation’s refineries in Port Harcourt, Warri and Kaduna
- Signing of $3.15bn alternative financing package with Sterling Exploration and Energy Production Company Limited (SEEPCO) for NPDC’s OML 13- The Federation is expected to earn over $10.2 bn in royalties and taxes from the project over 15 years while NNPC will earn $5 billion.
- Signing of the Abo OML 125 Heads of Terms between NNPC and Nigeria Agip Exploration Limited (NAE) Agreement –which marks significant advancement in resolving issues around most deep offshore production sharing contracts- paving way for eventual renewal of OML 125 and further investment in exploring Abo field resources.
- Execution of novation agreement for transfer of NNPC’S interests in OMLs 60, 61,62 and 63 to NPDC to grow the company into formidable exploration and production entity
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