Business & Finance

NNPC Seeks Investors on 10b Barrels Assets

A multi-billion dollar investment opportunity in the nation’s deep-offshore frontiers was yesterday unveiled at the 10th World Energy Capital Assembly in London, United Kingdom.

It was part of the drive by the Nigerian National Petroleum Corporation (NNPC) to raise Nigeria’s crude oil reserve.

Delivering an address at the panel session titled: “Spotlight on Africa”, NNPC Group Managing Director Dr. Maikanti Baru said: “Globally, Nigeria has the highest untapped deep water resource of about 10 billion barrels of oil equivalent, in addition to other vast opportunities in the oil and gas value chain.”

Represented at the event by the Corporation’s Group General Manager, Corporate Planning & Strategy, Bala Wunti, the GMD explained that Nigeria has the largest and one of the most vibrant economies in Africa with lots of potentials, especially in the gas, refining and infrastructure space.

In a statement yesterday, NNPC spokesman Ndu Ughamadu, quoted him as saying: “I invite you all to a country that has massive opportunities, very good business climate and good returns on investment.

“Our resilience has been tested, we have been through the booms and bursts and we came out stronger. With our experience, geographical location and capacity, Nigeria is the country of now and the future.”

He further explained that the corporation has a clear strategy for harnessing these potentials through collaboration and building robust partnerships as entrenched in its 12 business focus areas.

The World Energy Capital Assembly is a leading gathering of energy executives, finance and investment professionals to discuss emerging and re-emerging energy investment opportunities, review deals done and chart an outlook of energy related activities across the globe.

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