Thursday, 21 November, 2019

First phase of Port Harcourt refinery repairs completed – NNPC


The first phase of the rehabilitation of the Port Harcourt Refinery has been completed, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has said.

Mr Kyari said at the Town Hall meeting of the staff of the corporation in Abuja on Tuesday that the successful completion of the first phase of the repairs was among the highlights of the achievements of his management since he assumed office a few months ago.

The GMD said his other achievements included the saving of over $3 billion from arbitrations by the Legal Department of the Corporation; discovery of oil in the Kolmani River-II Well, and attainment of over two billion litres of Premium Motor Spirit reserve.

Other achievements, he said, include the re-opening of Oil Mining Lease (OML) 25 flow station after two years of inactivity as a result of community crisis between the host community and Belema Oil, and Shell Petroleum Development Company.

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Also included is the signing of ‘novation’ agreement with Nigerian Agip Oil Company (NAOC) to formalise the transfer of OMLs 60, 61 and 63 to the Nigerian Petroleum Development Company (NPDC); execution of a funding, technical services agreement and alternative financing deal worth $3.15 billion for OML 13 and $876 million for OML 65.

He also listed the signing of the $2.5 billion prepayment agreement with Nigerian Liquefied Natural Gas Limited (NLNG) for upstream gas supply for trains 1-6, finalisation of the 2018 audit of the NNPC Group, and improved engagement with key stakeholders, notably, the National Assembly.

While addressing the staff at the meeting, the NNPC spokesperson, Samson Makoji, said Mr Kyari urged them to redouble efforts to ensure the country reaps from its vast hydrocarbon resources.

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Mr Makoji said the GMD reminded the NNPC staff that it was imperative for the corporation to increase its level of efficiency and revenue while reducing costs across the value chain of its businesses within the shortest possible period.

He informed the workers that during the recent management retreat, a five-step approach was prescribed for the corporation to attain global excellence through the TAPE (Transparency, Accountability and Performance Excellence) agenda.

Among the five steps include well-defined processes benchmarked to world-class oil and gas company requirements; right cost structure that guarantees value realisation and profitability; goals, priorities and performance guarantee; suitable governance structure for strategic business units, and entrenching team work and collaboration with all key stakeholders.

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During the event, Mr Makoji said Mr Kyari launched the NNPC downstream company, NNPC Retail Limited’s banners, to position the company as a market leader in the products distribution subsector in the country.

At the meeting, both the NNPC Group Chairman of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Mathew Duru, and his counterpart in the National Union of Petroleum and Natural Gas Workers (NUPENG), Paul Idache, reportedly pledged the commitment of their members to the aspirations of the NNPC management.

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