In furtherance of the transparency agenda of the Group Managing
Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele
Kyari, the corporation has publicly opened bids from 14 companies for the
financing and redevelopment of Oil Mining Lease (OML) 119.
OML 119 is operated by the Upstream subsidiary of the corporation, the Nigerian
Petroleum Development Company Limited (NPDC).
Speaking at the public opening of bids for the
Funding and Technical Services Entity (FTSE) which held at Abuja, recently, the
GMD said OML 119 was one of the corporation’s critical projects which align
wholly with the Federal Government’s aspirations of boosting crude oil and gas
production, growing reserves, and monetizing the nation’s enormous gas
resources.
Kyari, who was represented by the Chief Operating Officer, Corporate
Services, Engr. Faruk Sa’id, stated that the selection process for the
potential FTSE was transparent and in strict compliance with extant laws and
overriding national interest, adding that it was also in tandem with the
Economic Recovery and Growth Plan (ERGP) and the TAPE agenda of the NNPC.
In his remarks, the Group General Manager, Supply Chain Management, Mr.
Abdulhamid Aliyu, assured the companies that the selection process would remain
transparent and fair.
OML 119 is a twin offshore block made up of Okono and Okpoho Fields located
approximately 50 kilometers offshore south-eastern Niger Delta.
14 Companies Bid for OML 119 Redevelopment Financing
