Nigeria now has 37 billion barrels in Nation’s Oil Reserves- NNPC

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Nigeria now has 37 billion barrels in Nation’s Oil Reserves- NNPC

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The Nigerian National Petroleum Corporation (NNPC) has announced that the country’s oil reserve was now 37 billion barrels.
NNPC

NNPC

Also, the corporation vowed to find a lasting solution to the threat posed by the Niger Delta militants.The Group Public Affairs General Manager of the NNPC Group, Mr. Ndu Ughamadu in a statement issued in Abuja said that the corporation had created security management platforms to identify and evaluate risks and also develop implementations of investigations.Also, the platform would also aggregate and deploy necessary resources needed to guarantee peaceful business environment in the region.The Group Managing Director, NNPC, Dr. Maikanti Baru said that the corporation was committed to implementing a robust security and he also ensured of peace in the industry operational areas.”˜Dr. Baru attributes to the recent increase in the country’s oil and gas reserves to 37 billion barrels and 192 trillion cubic feet, respectively to the relative peace that was instituted in the Niger Delta. Over the years, NNPC adopted strategies to ensure the Corporation’s operational profitability, renegotiation of all existing contracts to achieve substantial value realisation of between 5 and 30% discounts. This singular effort alone translated to substantial cost savings in favour of NNPC’, Mr. Ughamadu said.He also lauded the efforts of the President and Ibe Kachikwu for providing enormous support to reposition NNPC.

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