The Nigerian National Petroleum Corporation (NNPC) and its subsidiary, the Nigerian Petroleum Development Company (NPDC), have pledged to ensure professional management of assets and oil mining leases acquired from the Shell Petroleum Development Company (SPDC).
This is contained in a statement issued by the acting group general manager, public affairs of NNPC, Tumini Green, on Sunday in Abuja.
Read also: Firm files appeal against FAAN over airport hotel land
The statement quoted the group managing director of the corporation, Andrew Yakubu, as making the pledge after the NNPC/NPDC board meeting on Saturday in Warri, Delta State.
Yakubu said the corporation was repositioning its exploration and production subsidiary, the NPDC, to ensure that acquired assets from the international oil companies (IOCs) are productive so as to boost the nation’s revenue flow.
“With the divestment of Shell, NPDC is the top and the only option for indigenous participation that will replace companies like SPDC and other companies that wanted to divest their equities.”
