…Drives down crude oil production cost to $20pb
By Etuka Sunday
The Nigerian National Petroleum Corporation (NNPC) said it has emerged the overall best participant at the just concluded 39th Kaduna International Trade Fair which held in Kaduna from 23rd February to 4th March, 2018.
NNPC said, it was so announced by the Kaduna Chambers of Commerce, Industry, Mines and Agriculture (KADCIMA) at the closing ceremony of the fair.
The corporation, which returned to the fair after a two-year absence, beat Dangote Industries and the Nigerian Ports Authority to second and third positions respectively to clinch the top prize at the 10-day event.
NNPC in a statement by its spokesman, Ndu Ughamadu said, speaking while presenting awards to outstanding participants at the closing ceremony, Governor of Kaduna State, Mallam Nasir El- Rufai, commended the Corporation and other participants at the fair for the quality products showcased as well as the innovation and grandeur they brought to bear on the event.
The Theme of the Fair was: “Promoting Industry, Commerce and Agriculture for International Competitiveness”.
In an address at the NNPC Special Day at the fair which was marked on 28th February, Group Managing Director of the corporation, Dr. Maikanti Baru, had restated the corporation’s commitment to the economic diversification program of the Federal Government.
He said it was imperative to intensify and support the Federal government’s economic diversification program to free the economy from the “vagaries of oil price volatility, which during a period of glut, could spell doom for the nation”.
The NNPC’s helmsman noted that a renewed focus on commerce, industry and agriculture would have a greater impact on the standard of living of Nigerians as “these sectors can engage more people in productive activities compared to oil and gas which despite its significance, accounts for only 12.7 per cent of the country’s Gross Domestic Product (GDP)”.
He assured the KADCIMA of NNPC’s participation in subsequent editions of the trade fair.
Speaking earlier, President of the Kaduna Chamber of Commerce, Industry, Mines and Agriculture, Hajia Farida Dantata, who was represented by Alhaji Tijani Ahmed Musa said the absence of NNPC in the last two editions created a void at the fair.
Meanwhile, NNPC said it has brought down the cost of producing a barrel of crude oil to $20, even as it now targets producing the black gold at $15 per barrel.
NNPC Group Managing Director, Dr. Maikanti Baru, who disclosed this in Abuja during the NNPC Day at the ongoing Technology and Innovation Expo 2018, attributed the feat to the impact of science, technology and efficient work processes, saying the mileage would enable more revenue generation to the Federal Government.
Represented by the Chief Operating Officer (COO), Gas and Power, Engr. Saidu Mohammed, the GMD noted that the NNPC had been innovative and efficient in its various operations to drive down the cost of production of crude oil and gas.
Dr. Baru said the NNPC was not only participating in the Science Fair but was also in full support of the ideals behind the event, stressing that science and technology is the bedrock of the Oil and Gas Industry.
The GMD stated that the corporation had succeeded in domesticating engineering, procurement, construction and most of the major activities of the Oil and Gas Industry, adding that heading to London to prepare mere tender documents for engineering, procurement and construction belonged to the distant past.
He explained that today, there were fabrications going on in the areas of valves, line pipes, stressing that Nigeria has also gone into fabrication of vessels.
Dr. Baru disclosed that NNPC would continue to support all sorts of innovations in the upstream, midstream and downstream sector.
Commenting on the Ajaokuta-Kaduna and Kano pipeline project, popularly referred to as AKK pipeline project, the GMD stated that the pipelines of the project were fully domesticated in line with the local content policy of the Federal Government, saying for the other areas of services required, Nigerians would do all the pre-commissioning and commissioning services of the project.
On the refinery revamp, the GMD disclosed that already the NNPC was training some Nigerians that would be fully engaged in the refineries revamp, stressing that tremendous amount of jobs and services that would be required would all be provided by Nigerians.
The GMD stated that the NNPC was committed to promotion of efficient consumption of energy in the mold of biofuels, adding that already the corporation has signed four Memoranda of Understanding (MoU) with different State Governments and investors to actualize the introduction of more environmentally friendly fuel.