In a bid to boost oil production and expand its current output, the Nigerian National Petroleum Company Limited (NNPCL) has signed a Memorandum of Understanding with the Gambian National Petroleum Company (GNPC).
Investors King reports that the partnership between the two countries is targeted to drive massive growth in the industry and enlarge its crude oil market.
The Nigeria and Gambia Petroleum firms signed the agreement at the headquarters of NNPC Limited in Abuja.
The NNPCL’s Executive Vice President, Business Services, Danladi Inuwa and GNPC’s Managing Director, Baboucarr Njie, signed the MOU for their respective companies.
According to a tweet by the NNPCL, the new collaboration is aimed at expanding the nation’s oil sector beyond the shores of Nigeria.
NNPCL stated, “Areas of interest include new frontier exploration, crude oil market expansion opportunities and transfer of technology towards the quest for more energy security for both countries and the West African sub-region.”
Investors King had earlier reported that NNPCL is set to drill crude oil in Nasarawa state on March 21, 2023 as another measure to expand oil exploration.
According to the Group Chief Executive Officer, NNPC Ltd, Mele Kyari, oil exploration in Nasarawa began in 2010 which will be massively revamped having found crude oil in the state.
“We started exploration work in the areas that we will now focus on since late 2010. Exploration work is always a tedious activity, you gather data, interpret them, make sense out of it and ultimately you’ll decide to test the outcomes.
“We have established a petroleum environment technically, we have seen our data, many years of work, most of them done very recently. We have seen a great potential for finding hydrocarbons in Nasarawa State. To confirm this, we are going to start drilling on March 21, 2023, and we are very optimistic that it will be a successful exercise,” Kyari said.
