HOUSTON: The Nigerian National Petroleum Company Limited (NNPCL) is set to attract cleaner investment deals in the oil and gas sector, which it believes will enable it achieve the net-zero target by 2060 and provide value for Nigerians.
The state-owned company also sees the deal as a means to ensure that its operations are safe and sustainable.
The NNPCL delegation representative, Rakiya Sambo, revealed the development while addressing the Minister of State Petroleum, Heineken Lokpobiri, and the Nigerian Upstream Petroleum Regulatory Commission, Engr. Gbenga Komolafe and other top government officials at the 2024 Offshore Technology Conference (OTC) in Houston, Texas, USA.
The central theme for the 2024 edition of the OTC is “Sustainable Energy Solutions for Africa’s Future.”
Sambo said with the passage of the Petroleum Industry Act, the NNPC became a limited liability company governed by the Companies and Allied Matters Act (CAMA), more focused and profit-oriented.
“So, we are here today to promote NNPCL brands to give them visibility, exposure, penetration and most especially, the credibility of the brand.
“NNPC is committed to innovation and sustainability. We will sign new cleaner investments in the oil and gas industry and the aim of that is to ensure that in all our operations, we will reduce emissions on our project so that we can achieve the net-zero target by 2026.
“Most of our processes are very automated, and it has shown to be very effective. We are open for business, and our laws are very friendly to investors.”
Mrs Sambo said the laws governing the industry are very friendly and would allow investors to get returns on their investments.
“Investors are assured that their businesses are safe,” she said.
As the country continues its hunt for investors, the team revealed that the State-owned company is searching for the right investors to take up projects in the industry.
“Our being here today is to ensure that we foster a lot of collaboration,” Sambo added.
According to her, the 2024 OTC would mark the start of fruitful collaboration with foreign investors in the oil and gas sector.
She added, “It will interest you to know that Nigeria is the only country in Africa that has signed to the Global Decarbonisation and Acceleration Programme which is very good for us to ensure that we reduce emissions in most of our operations.
“We are going to leverage on the opportunities here and gain a lot of mileage and ensure that we go back with a list of potential investors.”