NNPC declare NOG 2017 in Abuja open

Abuja gateNOG 2017 opens in Abuja. (Image source: Chippla/Commons)Dr Maikanti  Baru, group managing director, Nigerian National  Petroleum Corporation (NNPC) has declared Nigeria Oil and Gas 2017 open this week, and he expressed optimism on Nigeria’s oil Industry


Dr Baru expressed optimism that the Nigerian oil industry is turning the corner and that things can only get better. He said that the optimism could be seen in the attendance of exhibitors and conference attendees at the 2017 edition, which he said was the highest since the inception of the exhibition and conference in Nigeria.

Speaking specifically on the Nigerian oil industry, he made reference to the improved scenario for operators, citing the reduced prevalence of pipeline vandalism, which he pointed had reduced by 20 per cent in 2017 compared to the 2016 figures.

“There had been lots of engagements with the stakeholders in the industry that is now reflected in the more enabling environment and the reduction of pipeline vandalisation,” said Dr Baru.

The NNPC has joint ventures with IOCs and previously none or late payment of counterpart funding by NNPC  had impacted negatively on production, but  Dr Baru said that had been a significant improvement by the Nigerian government on the cash calls payment. He said this has considerably improved the investment climate in the oil industry, giving "a significant measure of hope. “

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

twn Are you sure that you want to switch to desktop version?