NNPC, ENEL pledge collaboration in Upstream Operations

Source: pointblanknews.com

The Nigerian National Petroleum Corporation, NNPC, and Italian Power Company, ENEL are to go into a strategic partnership in the upstream sector of the oil and gas industry in Nigeria.

Receiving the ENEL delegation at the NNPC Towers Abuja, the Group Executive Director, Exploration and Production, Mr. Phillip Chukwu who stood in for the new Group Managing Director, Engr. Austen Oniwon expressed the readiness of the Corporation to do business with the Italian Company and other companies that would add value to the Corporation.

Mr. Chukwu commended the Italian Company for expressing interest in the upstream sector of the Corporation revealing that if the memorandum of understanding is eventually agreed upon, the company would be obliged to supply gas to the domestic market of the country.

“On behalf of the management and staff of the NNPC, I want to commend you for your company's interest in investing in the upstream and Brass LNG of the country and I wish to assure you that your business proposals will be considered”.

On the request for oil blocks by the Company, the Group Executive Director,Engineering and Technology, Mr. Billy Agha informed the prospective Italian company that blocks in the country are usually acquired through a competitive bidding process which is advertised saying that there is no room for any discretionary award of blocks.

Speaking earlier, the Vice President of ENEL Marco Arcelli said their visit was informed by their desire to build a strategic relationship with NNPC considering its track record of being one of the largest producers of liquefied natural gas.

Mr. Arcelli disclosed that Enel is Italy's largest power company, and Europe's second listed utility by installed capacity revealing that it is an integrated player which produces, distributes and sells electricity and gas.

He averred that ENEL was ready to help the Corporation contribute to the power needs of Nigeria and provide free consultancy services and technical support for the Corporation.

 Leading the ENEL delegation was the Italian Ambassador to Nigeria, Roberto Colamine.