The NNPC has blamed its inability to
meet financial obligations to the country on accelerated attacks on oil and gas
facilities.
Group Managing Director of the NNPC,
Mr. Maikanti Baru, while receiving the governor of Bauchi State, Mr. Mohammed
Abubakar, who paid him a courtesy visit in Abuja, said the country was facing serious
economic problem.
“It is a very difficult time for us with all
the leakages that we suffer, especially infractions on our infrastructure, in
terms of pipeline vandalism and theft to be able to meet our obligations to the
Federation Account Allocation Committee, FAAC”, he said.
Baru said the NNPC was aggressively expanding
oil exploration in the northern areas of Chad basin and Kolmani River near
Bauchi , in line with president Buhari’s directive to discover more oil fields
to increase oil revenue.
“The NNPC was taking steps to
re-strategise and get into those regions to step up crude oil exploration
activities.
“We will re-invigorate the Frontier
Exploration Services and see how they collaborate with the Northern Nigeria
Development Company, NNDC.
‘’NNDC is holding bloc 809 where we have some
of the finds and also the Department for Petroleum Resources, DPR, for the
other blocs that have not been assigned.”
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