NNPC Saves Over $3bn – TheNigerialawyer

… As Kyari Rallies NNPC Workforce for Greater
Efficiency

Mallam Mele Kyari, Group Managing Director of Nigerian National
Petroleum Corporation (NNPC) has said the corporation saved over
$3billion from arbitrations. This is contained in a press statement
signed by Samson Makoji, Acting Group General Manager, Group Public
Affairs Division, Nigerian National Petroleum Corporation, NNPC
Towers, Abuja.

Mallam Kyari dropped the hint Tuesday in Abuja when he engaged
staff of the corporation in a Town Hall meeting that also involved
the participation of the corporation’s outstation-staff.
The NNPC GMD gave kudos to the Management of the corporation’s
Legal Division for the save, saying its due diligence accounted for
the feat.

Speaking further at the Town Hall engagement, Mallam Kyari urged
the corporation’s workforce to redouble their efforts to ensure
that the nation reaps bountifully from its vast hydrocarbon
resources which the National Oil Company has the mandate to
superintend.

He charged that it was imperative for the corporation to
increase its level of efficiency, reduce cost and increase revenue
across value chain of its businesses within the shortest possible
period.

The GMD seized the opportunity of the event to update members of
staff on the recent NNPC Top Management retreat which prescribed a
five-step approach for the corporation to attain global excellence
via the TAPE agenda (Transparency, Accountability and Performance
Excellence).

He listed the steps to include: Well defined processes
benchmarked to World-class Oil & Gas company requirements,
Right cost structure that guarantees value realization and
profitability, Goals, priorities and performance guarantee,
Suitable governance structure for strategic business units and
Entrenching team work and collaboration with all key
stakeholders.

The NNPC GMD took stock of his tenure, noting that some
remarkable successes had been recorded within the period.

The achievements, he explained, included: attainment of over
2billion litres of Premium Motor Spirit reserve, completion of
Phase1 of Port Harcourt Refinery Rehabilitation exercise, Discovery
of Oil in Kolmani River-II Well and the Re-opening of OML 25 flow
station after two years of inactivity as a result of community
issues between the host community/Belema Oil and Shell Petroleum
Development Company.

The achievement, he noted, also included; Signing of novation
agreement with Nigerian Agip Oil Company (NAOC) to formalize 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 USD
3.15billion for OML 13 and USD876million for OML 65.

Others are; Signing of USD2.5billion prepayment agreement with
Nigerian Liquefied Natural Gas Limited (NLNG) for Upstream gas
supply for trains 1-6, Finalization of the 2018 audit of the NNPC
Group and improved engagement with key stakeholders, notably, the
National Assembly.

Kyari commended the NNPC workforce for dedication and
constructive feedbacks which, he said, had gone a long way in
shaping the successes recorded thus far.

During the event, the GMD also launched the banners of the
corporation’s Downstream company, the NNPC Retail Limited, with a
view to positioning the company as a market leader in the products
distribution subsector in the Country

Comrade Mathew Duru, the NNPC Group Chairman of the Petroleum
and Natural Gas Senior Staff Association of Nigeria (PENGASSAN)
pledged the commitment of staff members to the aspirations of the
NNPC Management.

Similar sentiment was expressed by Comrade Paul Idache, NNPC
Group Chairman of the National Union of Petroleum and Natural Gas
Workers (NUPENG).