The Nigerian National Petroleum Corporation (NNPC) and Nigeria Agip Oil Company Limited (NAOC), its Joint Venture (JV) partner on Tuesday pledged to implement Okpai Phase 2 project to increase electricity generation with 500 MegaWatts (MW).
According to a statement by NNPC‘s Group General Manager, Group Public Affairs Division, Ndu Ughamadu, NNPC’s Group Managing Director, Dr Maikanti Baru, made this known when he received the new Vice Chairman and Managing Director of NAOC, Fiorillo Lorenzo in Abuja.
Baru said Okpai phase 2 project was being fine-tuned to expeditiously bring it on stream, adding that it would increase power generation by 10 to 12 percent.
He said, “That is additional 500MW of power that is coming in, would ensure the transmission is up and going.
“We should be able to boost the present power supply to the country by another 10 to 12 percent of the current generation.
“Once power is available, there will be a lot of improvement in the standard of living of Nigerians.”
Earlier, Lorenzo said his company had a long-standing partnership with Nigeria.
He said, “We want to grow; we want to build, develop new opportunities and support the country in its energy journey.
“We want to try to change and improve the energy mix of the country and the Okpai project is a testament of this commitment of our company.”
The outgoing Vice Chairman of NAOC, Massimo Insulla, said the meeting with the GMD was fruitful.
He said discussions focused on opportunities in the Joint Venture (JV) and the Production Sharing Contract (PSC) by taking advantage of the oil price situation to bring additional value to investment in Nigeria.