Opportunities and Challenges of Divested

Asset Management – NPDC’s Experience

Kareem Folorunso
(Manager , NPDC Onshore Assets)

Nigerian Petroleum Development Company Limited (A subsidiary of NNPC)

OUTLINE

 Introduction

 Why Divestment of Assets by the Oil Majors

 Status of Asset At Takeover

 The Opportunities Presented to NPDC by the Divestments

 The Challenges in Managing the divested Assets

 Conclusion
INTRODUCTION

 The Oil and gas industry has been the mainstay of the Nigerian Economy since
the early 70s contributing over 80% of foreign earnings

 The industry which started production in the late fifties was dominated by the
IOCs – SPDC, Exxon Mobil, Chevron, Total, NAOC, etc.

 Federal Government acquired majority shares in the Oil Companies through

several Participation Agreements

 NNPC was set up to manage Government Interests in the industry

 From 2009, the industry witnessed sale of oil block by the Oil Majors (Shell, BG, Agip,
Total, Petrobras ,Chevron, ConocoPhillips)
INTRODUCTION CONT’D

OPL 332, 286 and 284

OML 4, 38 and 41

OML 26 and 30

OML 34, 40 and 42

OMLs 60-63
 Many Indigenous Oil Companies participated in the bidding process thereby emerging as
marginal field operators. Indigenous companies contributes less than 15% of the total oil
production as at 2010

 In 2010 Nigerian Oil and Gas Content Development (NOGIC) Act was passed .

 Proponent of indigenization of the Nigerian Oil industry saw it as a golden opportunity

for local participation in the sector and a sure avenue to boost the Nigerian economy

 NPDCs involvement in some of the divested assets was brought about by NNPC
assignment of her equities to her wholly owned subsidiary
WHY DIVESTMENT OF ASSETS BY THE OIL MAJORS?

 Why the gale of assets disposal by the IOC?

 Reasons behind divestment provide insight to the challenges to be faced in the

management of these assets:

 Reduced productivity of the assets

 Hostile host communities

 Insecurity

 Change in business model

 Operational difficulties due to aged facilities

 Dwindling margins as a result of high operating costs in the Nigerian oil

industry
STATE OF THE ASSET AS AT TAKEOVER – SHALLOW WATER ASSET (OML 40)

 Asset has been abandoned for over seven

years

 Equipment in the flowstation had lost their

functionality due to lack of preservation

 Extensive corrosion on the flow station

equipment

 All flowlines harvested by unknown

individuals

 Wellhead structures were vandalized

 The existing field logistic base was in state

of disrepair

 Access to the wells and flow station was

heavily silted
 The Aged Crude Oil Export Pipeline
severely affected by corrosion and several
points were vandalized and damaged by
vandals
STATUS OF ASSET AT TAKEOVER – OML N42 ( CONT’D)

 Batan was the only producing fields as at takeover

 Flow-station was operational with aged equipment

 All other flow stations in the fields were heavily vandalized

 All the wellheads were vandalized

 All flowlines were stolen

 Export pipelines were completely removed by unknown persons

 Access ways highly silted - well location accessibility impossible

 No crude oil production activity

 No visible community development project

STATUS OF THE ASSET ATTRANSFORCADOS
TAKEOVER : TRANSPIPELINE NETWORK
– FORCADOS PIPELINE (TFP)

24” x 31.31km

Chanomi mf
13.32km
28” x 42.46km

Eriemu mf

ERIEMU M/F TO UPS

• 16” X 13.48 KM
• 24” X 13.22 KM

UPS TO RAPELE M/F

• 24” X 31.31KM

RAPELE M/F TO FORCADOS RIVER CROSSING M/F

TFP
• 28” X 42.46KM
De-rated
Good condition
Integrity not assessed
Replacement required
STATUS OF ASSET AS AT TAKEOVER -SURFACE OIL PROCESSING FACILITIES

JONES CREEK (150Kbpd)

2.5km River crossing 28”  TFP

BATAN (30Kbpd)
16” x 18.88km
8” x 1.2km
EGWA 1 8” x 2.21km Batan
(30Kbpd) MFLD

FLB
28”
EGWA 2 ODIDI 2 (40Kbpd)
(40Kbpd) ODIDI 1 (60Kbpd)
8” x 4.16km 8” x 1.5km

Key 8” x 1.55km
20” x 2.74km 20” x 6.45km Keremo
Flowstaion (in operation)
MFLD
Vandalized Flowstaion (to be Revamp)
Remote Manifold 28”
Stolen Delivery Pipeline(Replacement required)
Delivery pipeline (in production) FORCADOS
Terminal
FLB Field Logistic Base
Trans Forcados Pipeline (TFP)
9
STATUS OF THE ASSET AS AT TAKEOVER (CONT’D)

Well Heads/ Xmas tree Platform vandalized

valves stolen

1
STATE OF THE ASSET AS AT TAKEOVER (CONT’D)

 Flowlines stolen  Flowlines cut at the well head

 ROW encroached by mangroves

11
 STATUS OF ASSET AS AT TAKEOVER (CONT’D)

Dysfunctional Control room in Odidi CPF Gas lift Compressor in Jones Creek FS
Opportunities in the Divested Assets

NPDC’s Experience
TRANSFORMATION OF NPDC TO AN OIL MAJOR

NPDC Post-New Asset Divestment

•Oil = 3.168 BSTB

•Condensate = 330 MMSTB
•Gas = 18.4 TSCF
NPDC Pre-New Asset Divestment
•Oil = 313 MMSTB
•Condensate = 60 MMSTB
•Gas = 2 TSCF

Post Divestment
 Huge Hydrocarbon resources become available

 NPDC is the 3rd largest oil company in Nigeria in terms of oil reserves and has the 4th
largest gas reserves in Nigeria

 Countless opportunities for partnership and collaboration with other business entities
also became available as a result of the divestment
ABUNDANT FIELD DATA

 Divested assets under NPDC operations consist majorly of matured Oil fields
 Critical data for decision making are abundant and readily available
 Seismic coverage of blocs is beyond 90%
 Well documented geological and petrophysical information
 Well logs
 Reservoir models
 Facility Asset Reference Manuals
EARLY CASH INFLOW

 To establish crude oil production is a daunting task

Discovery Evaluation Development Production

Exploration

5 – 10 years 1 – 5 years

 Huge capital investment is required and there are uncertainties in the outcomes

 Divested assets are already in production phase

 Some of the assets were in production while others require minimal work to re-establish
production
 Availability of third party facilities to leverage on – FOT, TFP, NGC gas plants etc
PRODUCTION GROWTH OPPORTUNITIES
 Quick win opportunities for oil and gas production growth abounds in the divested
assets.

 Several non producing wells in the field can be brought into production with minimal
work:

 Flowline construction
 Wellhead and Xmas tree repairs
 Swabbing
 Gas lift optimisation

 Non producing fields can be re-streamed through re-entry program

 Revamp and installation of OML 26 and 30 Gas lift Compressor stations to increase
production from 2000bopd to 9000bopd and 15000 to 55000bopd respectively

 Drilling of infill wells.

PRODUCTION GROWTH OPPORTUNITIES – ODIDI /JONES CREEK RE-ENTRY

 Odidi /Jones creek re-entry projects were conceived in 2013 to re-establish oil and gas production
in OML 42

 Wellhead platforms and Xmas trees successfully revamped

 Dredging of Access ways and heavily silted well slots

 Engineering , Procurement , Construction & Installation of Flowlines and Export pipelines

 Flowstation and gas plant equipment rehabilitated

 Oil production was re-established in Odidi & Jones Creek on October 2014 and September 2015
respectively.

 Gas commercialization is planned to commence in Nov 2017 @ 40MMSCF/D.

PRODUCTION GROWTH OPPORTUNITIES – ODIDI RE-ENTRY

Wellhead after revamp New Export Pumps at Odidi Flowstation

New 2 x 4.5MW Turbo Generators Installed New Control System at Odidi

 OML-30
PRODUCTION GROWTH OPPORTUNITIES :TRANS – FORCADOS PIPELINE
(TFP) ASSET OVERVIEW
TFP covers a total length of approx. 87 km
Opuama
75 mmboe
4 mbbl/d.
GBetiokun
Trans Forcados Pipeline
Shut-in 115mmboe
since 2006 20mbbl/d
OML 40
Staddle with
OML 49 Production
from OML
4, 38, 41
Adagbasa
MF
OML 34
Jones Creek
Kokori
280 mmboe
Saghara MF Ughelli 283 mmboe
150 mbbl/d East 60 mbbl/d
Egwa
401 Afisere Urhure
Ubefan 478 mmboe Ughelli
Rapele Field mmboe 192
30 mbbl/d Rapele
30 mbbl/d MF
West
100 30 mbbl/d mmboe OML 30 Ogini
301 mmboe
Warri River mmboe 60 mbbl/d
15 mmcfd
MF 30 mbbl/d Oweh 20 mbbl/d
Batan capacity 60 mmboe
Odidi
100 mmboe 30 mbbl/d
635 mmboe Warri Crawford
Escravos MF 30 mbbl/d Eriemu
30 mbbl/d
60 mbbl/d
River
100 mmboe
Utorogu
463 295
OML 26
Gas Devt. Ajuju 15 mbbl/d mmboe mmboe
plan. Forcefully 30 mbbl/d 30 mbbl/d Olomoro
300mmcfd 270 mmcfd 371
Keremo MF cap.
closed Osioka mmboe
since Feb capacity
by 2013 0 60 mbbl/d
2006 mmboe
5 mbbl/d
Evwreni
Forcados OML 42 204
mmboe
River MF 30 mbbl/d Oroni
187 Uzere
mmboe East /
15 mbbl/d West
361 mmboe
60 mbbl/d

LEGEND
TFP OIL delivery line
Manifolds Injection points
Fields
MANY PRODUCTION GROWTH OPPORTUNITIES – OTHER ACHIEVEMENTS (OML 26)

 Drilling and Completion of

5nos Horizontal wells (Drilled
in 9 months)
 Successfully carried out Ogini
FDP.
 Reprocessed 483 Sq.Km of
3D Seismic Data
 Well intervention campaign
 Gas lift Compressors
installation
 Installation of new export
pumps

 Sectional replacement of
Flowlines and Gaslines
MANY PRODUCTION GROWTH OPPORTUNITIES – OTHER ACHIEVEMENTS
(OML 34)

 NAG 1 plant improvement project

 NAG 1 plant operated at Name plate

capacity (360MMSCF/D) for the 1st
time

 Ughelli gas plant upgrade

 Utorogu-Ughelli East DOM gas

pipeline

 Drilling and completion of 2nos wells

 Peak gas production of 414MSCF/D

in March 2015
 MANY PRODUCTION GROWTH OPPORTUNITIES –
OTHER ACHIEVEMENTS (OML 40)

 Opuama re-entry project

 Well 1 and 3 interventions

 Well 7 Intervention

 Gbetiokun development
 MANY PRODUCTION GROWTH OPPORTUNITIES –
OTHER ACHIEVEMENTS (OML 42)

 Odidi re-entry

 Jones Creek re-entry

 Egwa re-entry

 Odidi Gas plant revamp

 Work-over activities

 Batan drilling
HUGE GAS COMMERCIALIZATION POTENTIALS

 Through the divested assets; NPDC is the highest producer of hydrocarbon gas for the
domestic market

 NPDC has the 4th largest gas reserve in Nigeria as at date

 Plans to harness the huge gas resources in NPDC includes:

 Re-streaming of Odidi CPF for AG monetization after revamp of facility

 OML 42 NAG Development

 Completion and commissioning of Utorogu NAG 2

 Cluster Development of NPDC OML 26 & 30 to back-fill Utorogu Gas Plant

 Supply of rich gas to Pan Ocean gas plant

 HUGE GAS COMMERCIALIZATION POTENTIALS-
NPDC GAS DEVELOPMENT PLANS

AG+NAG
S/ Major
OML Reserves Existing Infrastructure Gas Development Plan
N Fields
(2P) BCF

1. 42 Odidi, 3716  Odidi AG Gas Plant  NPDC is currently undertaking studies for
Egwa (80 mmscfd) exporting excess gas from Jones Creek Field to
Odidi Gas Plant
 5.5km x 24’’ pipeline
from Odidi Gas  In the medium term, plan is to develop the
Plant to ELPS 1.2Tcf Gas Reserves at Egwa for processing at
Odidi Gas Plant
 Utorogu NAG Plant 1
(360 mmscfd)  Utorogu NAG 2 Plant has been installed and
successfully commissioned. Total available gas
Utorogu,
 Utorogu NAG Plant 2 processing capacity at Utorogu is 510MMscfd
2. 34 Ughelli 2927
(150 mmscfd)
East
 NPDC’s plan is to carry out aggressive
 Ughelli East Gas Plant development of the AG at Utorogu plant
(90 mmscfd)
 Medium term plan for cluster development of
Isoko,
AG & NAG reserves
Ovo,
Uzere Expected to use Utorogu
3. 26&30 3211  Plan to install a Gas Handling Facility of
West,Evwr gas plant
150mmscfd at OML 30 to process AG and NAG
eni, Oroni,
from both OML 26 and 30 and deliver lean gas
Eriemu
to ELPS
NPDC GAS DEVELOPMENT PLANS

2P AG+NAG
S/N OML Major Fields Reserves (2P) Existing Infrastructure Gas Development Plan
(BCF)
• New 10” x 22km pipeline connecting the
IGHF to Pan Ocean JV’s Ovade-Ogharefe
 100mmscfd Gas Plant completed. LPG will be
Integrated Gas stripped out at the Ovade-Ogharefe
Handling Facility Plant while the lean gas will be injected
(IGHF) into the ELPS line
4. 111 Oredo 1365
 Existing 16” x 20km • Oziengbe Flare out project is currently
line linking the IGHF being developed. Plans exist to transport
to ELPS gas from nearby Aroh and Oghareki
fields in OML 49 to Oziengbe for onward
transmission to the IGHF for processing.
 Odidi AG gas Plant
 Construct gas pipeline from the existing
(80 mmscfd)
well heads in Kukaku field to OML 42
 5.5km x 24’’
5 64 Kukaku 364 Odidi field to utilize the 50MMscfd NAG
pipeline
module currently at the Nigerian Ports
connecting Odidi
Authority.
CPF to ELPS
OPPORTUNITY FOR NIGERIAN FINANCIAL INSTITUTIONS TO PLAY BIG IN
THE INDUSTRY

The divestment of assets also open up a vista of opportunities for Nigerian

financial institutions

 Acquisition financing
 Project financing – directly or indirectly
 Asset insurance
 Operations
 Other structured financial products
Challenges in Managing Divested Assets

NPDC’s Experience
NPDC’S ORGANIZATION AND OPERATIONAL STRUCTURE

 NPDC being a government owned entity presents bureaucratic bottlenecks

 Decision making is not as fast as private entities

 Asset growth not commensurate to efforts and initiatives

 Approval authority limits

 Lack of enough manpower

 LIMITED SUPPORT FROM JV PARTNERS AND STRUGGLE FOR OPERATORSHIP

 JV partners believe they are better qualified to be an operator of divested

assets given SPDC/NNPC JV arrangement

 Difficulties in getting JV alignment on work programs and development plans at

SUBCOM, TECOM and OPCOM

 Irregular cash call payments

 Duplication of activities by the JV partners

FUNDING CONSTRAINTS

 Work programs required to attain production

targets has huge monetary implications.

 Failure of the strategy alliance partnership

created paucity of fund for asset development

 Work programs have to be rationalized based on

fund availability

 Project deliveries are negatively affected by

delays in payments to contractors.
INSECURITY & VANDALISM
Insecurity prevalent in the Niger Delta region is one of the
major reasons for the divestment of the Assets

 Security challenge still pose a big threat to oil and gas

production in the region

 Huge budgetary provision is made yearly for the provision

of security cover for personnel and facilities

 Pipelines and facilities are easy targets for militant in the Bombed Pipeline on Fire
region

 Gun boats are now prerequisites for Oil and gas operations
in the swamps of Niger delta

 About 20- 25% of crude oil injected into the main trunk line
never gets to the Terminal
 Circa. 17.5million barrels of crude oil has been deferred in Jones Creek Well 34 Fire –
only OML 42 alone from 2012 to date due to vandalism Millions of dollars was spent to
put off fire and kill the well

 Scarce resources is used to repair damaged equipment and

facilities.
INSECURITY & VANDALISM CONT’D

 Incessant pipeline ruptures

 A total of 10 ruptures/leakages within 2
months.

 Huge community and environmental issues

 Hostility
 Exorbitant demands for settlements
and compensations
 Provision of relief material
 Spill clean-up and remediation
challenges

 Difficult work terrain

 Difficulty in accessing work site
 Highly unstable soil condition
INSECURITY & VANDALISM CONT’D

Bombed Manifold Bombed Section of Trunk Line

Illegal tap on Trunk Line for crude

Illegal tap on Trunk Line
theft
TFP INCIDENTS ( SEPT 2014 – OCT 2015)

37
 BRIEF HISTORY OF THE 28” TFP REPAIR WORKS
INSECURITY & VANDALISM CONT’D

49

40

33 32

TFP Bunkering and Vandalism is a total of 56 Nos repair works

 BRIEF
INSECURITY HISTORY OF CONT’D
& VANDALISM THE 28” TFP REPAIR WORKS

TFP MAJOR INCIDENTS SPOTS; Chanomi Creek, Rapelle and Batan axis

Egbokodo-Itsekiri

Batan area

Bunkering or Vandalism Point

Chanomi Creek

Yeye
 TFP &CHALLENGES/RECOMMEDATIONS
INSECURITY VANDALISM CONT’D

Year Deferment Days Revenue loss(million$)

2013 22 308
2014 71 497
2015 77 539
Total 170 1,344
DEMANDS FROM THE HOST COMMUNITIES

 Most host communities see oil companies as the “government” in their area

 Basic amenities for good life are absent in most of the communities even after
a long period of oil exploitation

 Communities want the company to immediately develop their areas

irrespective of the financial implications and budgetary constraints

 Great efforts and resources is needed to manage these communities

 Production activities and project works are sometimes stopped due to unmet
demands resulting in production deferment
NPDC OPERATORSHIP
PERFORMANCE
 OML 40 NPDC OPERATORSHIP PERFORMANCE/PROGRAM

Pre SPDC SPDC Operatorship Field re-entry Field Field Field

Divestment Divestment Transfer redevelopment redevelopment redevelopment
•Oil and Gas
•NPDC 55% Equity •SPDC Equity production re- •Further Opuama in- •Further Opuama in-
Acquisition •Facilities integrity •Further Opuama in-
divestment streaming at the fill development fill development
evaluation at fill development
•SPDC Operation Opuama field drilling drilling
•Operatorship by Opuama Field drilling
SPDC •Opuama field •Gbetiokun
•Opuama Facilities •Production
•Documentation development development
rehabilitation optimization
Transfer program review
•Well & reservoir
•In-fill development
Management
drilling

2011 2012 2013 2014 2015 2016 2017

50

50
 OML 26 NPDC OPERATORSHIP PERFORMANCE/PROGRAM)

Pre SPDC Divestment SPDC Divestment Operatorship Production Optimisation & Re- Optimisation & Re- Optimisation & Re- Optimisation & Re-
•NPDC 55% Equity •SPDC Equity Transfer Takeover Stabilisation
Acquisition development development development development
•Operations •Operatorship transfer •Obtained DPR approval
•SPDC Operation Documentation Transfer from SPDC •Isoko Field •Isoko Field •Isoko Field •Isoko Field
for revised Field
•Fields partially down •Operatorship by SPDC •Three fields Developed Development Program Production Production Production Production
due to Community but 2 Producing at Optimisation Optimisation Optimisation Optimisation
issues •2 Fields developed and •Purchase of Long-lead
producing takeover items for drilling •Isoko & Ogini Well •Isoko & Ogini Well •Isoko & Ogini Well •Isoko & Ogini Well
•Issues with Gas lift •Compressor revamp campaign Interventions/ Interventions/ Interventions/ Interventions/
compressors and restoration of Gas •Contracting for drilling Workovers Workovers Workovers Workovers
lifted Wells rig for new
•1 field shut-in for •Commence Ogini •Commence Ogini •Commence Ogini •Commence Ogini
technical depletion •Reviewed Ogini Field development wells
Development Plan program Field re- Field re- Field re- Field re-
development development development development

2010 2011 2012 2013 2014 2015 2016 2017

51

51
 OML 30 NPDC OPERATORSHIP PERFORMANCE/PROGRAM

Pre SPDC SPDC Operatorship Optimisation &

Divestment Well Workovers Well Workovers Well Workovers
Divestment Transfer Interventions & Re-
•NPDC 55% Equity & Re- & Re-
•SPDC Equity •Operatorship •All OML 30 Fields development development
Acquisition
Transfer Transfer Optimisation
development
•SPDC Operation Planning Planning Planning
•SPDC Operation •8 Fields shut-in due •Well interventions
to Community to stabilise •Well workovers to •Well workovers to •Well workovers to
•Operations
issues production & improve wells improve wells improve wells
Documentation
•1 Field shut-in due reduce Water productivity productivity productivity
to vandalism production •Review of the asset •Review of the asset •Review of the asset
•Community field development field development field development
Engagement and program program program

2011 2012 •Exploration

2013drilling 2014drilling
•Exploration 2015 2016 2017

Assets' Production (bopd) 47,000 65,000

45,371
40,534

25,890 28,785
24,117

Performance Performance Forecast Forecast 52

52
 OML 34 NPDC OPERATORSHIP PERFORMANCE/PROGRAM

Pre SPDC SPDC Production Production Production

Divestment Operatorship Production
Divestment Ramp-up Stabilisation & Stabilisation &
Transfer Stabilisation &
•NPDC 55% Equity •Ughelli East Gas Optimisation Optimisation
Acquisition
•SPDC Equity •Production Optimisation
Divestment Optimisation infill development •Utorogu & Ughelli West •Utorogu & Ughelli West
•SPDC Operation •Operatorship •Utorogu & Ughelli Wells interventions Wells interventions
•Restreaming •Utorogu Oil infill
transfer from SPDC West Wells •NAG facilities
Closed-in Wells interventions development •NAG facilities
•Documentation development development
•Progressed NAG •NAG facilities •Warri River field
Transfer facilities •AG Gathering facilities •AG Gathering facilities
development reentry
development development development
•AG Gathering
•Fields facilities
development
2011 2012
Development 2013 2014 2015 2016 2017
Program Review

53

53
 OML 42 NPDC OPERATORSHIP PERFORMANCE/PROGRAM

Pre SPDC Operatorship

Divestment Production Facilities rehab at
Transfer Re-open shut-in Re-open shut-in Re-open shut-in
Stabilisation shut-in fields
•NPDC 55% Equity Field & re- Field & re- Field & re-
•Documentation •Batan & Ajuju developments developments
Acquisition
Transfer
•Facilities developments
Reservoir surveillance rehabilitation at Odidi
•SPDC Operation •Fully re-stream the •Fully re-stream the •Fully re-stream the
•Operatorship transfer •Batan & Ajuju & Jones Creek fields
from SPDC Odidi & Jones Creek Odidi & Jones Creek Odidi & Jones Creek
Production commenced Oil & Gas production Oil & Gas production
optimisation Oil & Gas production
•2 fields producing •Further Reservoir •Batan in-fill •Batan in-fill •Batan in-fill
•4 fields shut-in due to •Integrity testing on surveillance and development development
shut-in Odidi & Jones optimisation at development
community and
vandalism issues Creek fields Batan/Ajuju •Odid & Jones creek •Well & reservoir
re-entry management
•1 field technically •Batan field
shut-in due to development plan
depletion review

2011 2012 2013 2014 2015 2016 2017

54

54
ALTERNATIVE EVACUATION -LAND ASSETS

Ogini Truck Loading Facility:

 Completed Buffer Tank (6 x 500 bbl)
Installation for Water Dehydration
Tank vents manifolding and overfill connection piping
 Completed Manifolding and
Connection of Tank Vents to Flowstation
Flare Header
 Completed Modification of F/S Surge
Vessel to feed the Trucking bay
 Completed repair of failed sections
of Ogini field & Oleh roads in
preparation for crude oil trucking.
 Construction work at Ogini Loading
Facility almost completed (Exit Road, 2nd
Gate, Security Hut, Lighting Utility,
Operations Cabin)
 Completed Piping construction to
link the Ogini Loading Facility to the
Flowstation

55
ALTERNATIVE CRUDE EVACUATION BY BARGING (SWAMP ASSETS)

Shuttle Tanker
Location

barging 19 km

Shuttle tanker to FSO from

Escravos River
64 km

FSO
CONCLUSION

 NPDC sees many opportunities in the divested assets

 Great efforts made to maximize the opportunities amidst numerous

challenges

 NNPC and NPDC Leaderships developed innovative solutions to overcome

the numerous challenges:

 GMOU to address community and security issues

 Creating Host Community dependency on NPDC’s facilities to help foster a

symbiotic relationship with the communities

 Constitution of Asset Management Team (AMT) to remove administrative

bottlenecks

 Alternative crude oil evacuation to reduce deferment during TFP/FOT

outage

 Incorporated Joint Venture (IJV) to eliminate funding issues

THANK YOU
 APPRECIATION
• Management of NPDC & NNPC

• Colleagues in OMLs 26, 30, 34, 40 & 42.

• JV partners ( FHN, HERITAGE, ND WESTERN, ELCREST &

NECONDE )