NNPC, upstream operators earmark N11b to combat COVID-19

  • Mar 27, 2020
  • Vanguard

The Nigerian National Petroleum Corporation (NNPC) has in partnership with 31 players in the upstream segment of Nigeria’s oil and gas value-chain to provide N11 billion ($30 million) intervention fund to tackle Coronavirus (COVID-19) pandemic in the country.

The Nigeria Oil & Gas Industry under the Leadership of the NNPC Group Managing Director, Mallam Mele Kyari embarked on an industry- wide collaborative intervention initiative, with the upstream companies to combat the pandemic and it’s attendant impact on the people and economy.

Funding for the project will be provided in-kind using a transparent process driven with a clear governance structure under the sponsorship of the Kyari to be alternated by the Chief Operating Officer Upstream NNPC, Yemi Adetuji. The Group General Manager, National Petroleum Investment Management Services, (GGM, NAPIMS), Bala Wunti will lead the steering committee.

“As a responsive and responsible Industry, we are taking this action to strengthen our collective national resolve in combating this pandemic and it’s dreadful impact,” the NNPC said.

The Oil & Gas Industry Intervention on COVID-19 became exigent following the ravaging impact of COVID -19 pandemic on the critical sectors of the economy.

The initiative is in alignment with on going Federal Government effort, and in collaboration with the Nigeria Centre for Disease Control (NCDC) to curb the pandemic. The project is aimed at supporting Nigeria’s national healthcare delivery facilities and covers provision of medical consumables, deployment of logistics and in-patient as well as delivery of medical infrastructure.

The funding plan for the three thematic support initiatives showed that N1.98 billion, representing 18 per cent of the total fund, will be used in procuring medical consumables such surgical masks, respirator masks, safety gloves, protective suites and safety googles. Logistic and in-patient support will gulp N2.42 billion, which is 22 per cent of the total sum, and will be used in purchasing ambulances, oxygen kits and ventilators. The largest sum of N6.60 billion will be used to build medical infrastructure in each of the six geopolitical zones.

The companies collaborating with the NNPC in the project are Shell Group of Companies in Nigeria, ExxonMobil Group of Companies in Nigeria, Total Group of Companies in Nigeria, Chevron Group of Companies in Nigeria , Eni Group of Companies in Nigeria, Addax Petroleum and Aiteo Eastern Exploration and Production Limited.

Others include AMNI International Petroleum Development Company Limited, Dansaki Petroleum Limited, Elcrest Exploration and Production Nigeria Limited, Eroton Exploration & Production Company Limited, Energia Limited, First Exploration & Petroleum Development Company Limited, First Hydrocarbon Nigeria Limited and Frontier Oil Limited.

Also in the coalition are Green Energy International Limited, Lekoil Nigeria Limited, Midwestern Oil & Gas Company Ltd, Newcross Exploration &Production Limited, Network Exploration & Production, Niger Delta Petroleum Resource Limited, Oando Oil Limited, Oriental Energy Resources Ltd, Pillar Oil Limited and Platform Petroleum Limited.

Others are SEPLAT Petroleum Development Company Plc, Shoreline Natural Resources, Suntrust Oil Company Nigeria Limited, Vertex Energy Limited, Waltersmith Petroman Oil Limited and Yinka Folawiyo Petroleum Limited .

The next phase covering the efforts of NNPC and its downstream partners will be unveiled in the coming days.