The Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd, Mele Kyari on Friday met the Group Chief Executive Officer of ENI, Claudia Descalzi.
The meeting which was held at the NNPC Towers in Abuja, was also attended by the Executive Vice President, Upstream, NNPCL, Mrs. Oritsemeyiwa Eyesan
Discussions centred on strengthening collaboration between the two companies, especially in the areas of increasing crude oil production, growing reserves and delivering value for both parties.
The government is working towards the development of Nigeria’s frontier basins and the integration of innovative technologies to enhance exploration and production efficiencies.
The frontier basins hold promise for increasing Nigeria’s hydrocarbon production and they include the Anambra, Benue Trough (Lower, Middle, Upper), Chad (South-Eastern sector), Dahomey, Bida (Mid-Niger), Sokoto, and Deep/Ultra-deep offshore.
Nigeria is aiming to increase its reserves from 37 billion barrels to 50 billion barrels, in the short to midium term, as well as increase its proven gas reserves from about 209 trillion cubic feet (tcf) to about 250 tcf.
Apart from increasing its reserves, the government, through the NUPRC has also launched more bid rounds to ramp up crude oil production as well as guarantee energy sufficiency for the country.
Exploration of oil and gas in the frontier basins is at the centre of Nigeria’s quest to increase its oil and gas reserves.