Seemberg News

Latest Nigeria Business News

NNPCL, Gambia sign MoU on oil exploration


The Nigerian National Petroleum Company Limited has signed a Memorandum of Understanding with the Gambian National Petroleum Company for oil exploration and crude market expansion, among others.

Both partners signed the MoU at the headquarters of NNPC Ltd in Abuja, as the national oil company continued to expand its oil production drive within and outside Nigeria.

The firm tweeted that the agreement was for collaboration in the oil and gas sector, adding that NNPC Ltd’s Executive Vice President, Business Services, Danladi Inuwa, and GNPC’s  Managing Director, Baboucarr Njie, signed on behalf of the two national oil companies.

“Areas of interest include new frontier exploration, crude oil market expansion opportunities and transfer of technology towards the quest for more energy security for both countries and the West African sub-region,” NNPC Ltd stated

NNPC Ltd has been expanding it exploration for crude oil, as it recently announced that it found crude in Nasarawa State.

The Group Chief Executive Officer, NNPC Ltd, Mele Kyari, announced on Thursday that the oil firm would commence the drilling of crude oil in Nasarawa State on March 21, 2023.

He explained that exploration for crude oil in Nasarawa State actually commenced since late 2010.

He disclosed this during a courtesy call on the Nasarawa State governor, where he also appreciatedthe state government for supporting the oil company in it activities.

Kyari said, “We started exploration work in the areas that we will now focus on since late 2010. Exploration work is always a tedious activity, you gather data, interpret them, make sense out of it and ultimately you’ll decide to test the outcomes.

“We have established a petroleum environment technically, we have seen our data, many years of work, most of them done very recently. Let me also say that it is during the tenure of this government. And I must say clearly that the encouragement we received from Mr President enabled us to get to the conclusion that we are today.

“And the end result is that we have seen a great potential for finding hydrocarbon in Nasarawa State. To confirm this, we are going to start drilling on March 21, 2023, and we are very optimistic that it will be a successful exercise.”

Previous Article

Lagos transport plans stand, Oluomo not involved — REC

Next Article

SEC seeks youths participation in capital market

You may also like

Leave a Reply

Your email address will not be published.