Dr Maikanti Baru, the Group Managing Director, Nigerian National Petroleum Corporation (NNPC) has urged members of the Independent Petroleum Producers Group (IPPG) to participate in the forthcoming bid round for 30 marginal oil fields.
A statement by NNPC Spokesperson, Mr Ndu Ughamadu in Abuja , said Baru made the call when he received a delegation of IPPG, led by its Chairman, Mr Ademola Adeyemi-Bero.
Baru, who said that Federal Government would soon inaugurated the bid, also urged IPPG members to take advantage of the low crude oil price regime to develop their capacity and acquire more technology.
According to him, there are lots of opportunities in the marginal fields which will soon be available.
He also urged IPPG to work closely with the Department of Petroleum Resources (DPR) to meet the conditions required from the bidders.
“The marginal oil field lease renewal is an opportunity for your group.”
“You will need to engage the DPR early in discussion to find out the conditions that the Federal Government is interested in.”
“For example, the supply of gas to power plants and fertiliser plants and I think your group will be successful,” Baru advised.
The NNPC GMD also urged IPPG members to ramp up their collective production from 10 per cent of national production to 50 per cent in the next 10 years.
He said the development would increase the footprint of indigenous companies in the upstream sub-sector and the downstream.
The NNPC boss said that the corporation was passionate about collaborating with the indigenous producers to grow their capacity and participation in the exploration and production sub-sector.
This, he said was in line with government’s local content policy.
He said the corporation was proud of IPPG members and looking forward to a time when about 90 per cent of upstream operations in the country would be controlled by them.
Baru also commended members of the group for their productive community engagement which he noted had stemmed pipeline sabotage along the Trans Forcados Pipeline.
He, however, enjoined them to extend similar gesture to the communities around the other crude oil lines, to help stabilise national production.
Earlier, Adeyemi-Bero, said that the group was made up of 25 active indigenous producers.
He said that the members were driven by the passion to support the 12 business focus areas of the current management of NNPC and the seven big wins of the Federal Government.
Adeyemi-Bero thanked the Federal Government for initiating the Joint Venture cash call exit programme, stressing that the move would increase the activities of members of the group in the upstream sub-sector.
The IPPG was formed a year ago with the mandate to promote and advance the collective interest of members in a coordinated manner.
It is also a unified advocacy platform for Federal Government policies in the upstream sub-sector of the oil and gas industry.