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    Saturday, February 18, 2023

    NNPC Signs MoU with Gambia on Crude Oil Exploration

    On Friday, February 17, the official Twitter handle of the Nigerian National Petroleum Company (NNPC) Limited made the announcement that it had signed a memorandum of understanding (MoU) with the Gambia National Petroleum Corporation (GNPC).

    The NNPC claims that the Memorandum of Understanding includes opportunities for energy security promotion and collaboration on frontier exploration.

    “NNPCL and the Gambian National Petroleum Company (GNPC) signed a memorandum of understanding today to collaborate in the oil and gas industry. Mr. Danladi A. Inuwa, Executive Vice President of Business Services for NNPCL, and Mr. Baboucarr Njie, MD of GNPC, signed on behalf of the two NOCs.

    “Areas of interest include exploring new frontiers; opportunities for the expansion of the crude oil market and the transfer of technology in the interest of enhancing energy security for both countries and the West African subregion.”

    Recently, NNPCL has called for more partnerships in the West African region. Mele Kyari stated that Africans should collaborate to promote energy security and wealth growth for the benefit of the continent at the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) held in Lagos state on February 14. He stated.

    In order to spread wealth across the continent, “we should collaborate, share knowledge, and help each other in critical areas, including technology, exploration and production, research and development, technical expertise, and human capacity development.”


    What you should know: In order to improve their performance and operations, Gambian President Adama Barrow recently signed performance contracts with the GNPC and other SOEs. President Barrow says that performance contracts are meant to make SOEs work harder and tell them what they need to do to meet the goals that have been set for them.

    The purpose of the performance contracts is to guarantee that SOE results and performance are properly and closely monitored and measured.

    A strategic framework for accountability and efficient communication between the businesses and their stakeholders are also guaranteed by the contracts.

    A Memorandum of Understanding (MoU) was signed in 2019 by Ghana National Petroleum Corporation (GNPC-Ghana) and renewed in 2022 by GNPC-Gambia. In accordance with the MoU, GNPC-Ghana will offer technical assistance to GNPC-Gambia in the areas of data management, information systems, and petroleum research, exploration, and production techniques.

    The Gambia and Nigeria have an existing MoU. On the Nigeria-Morocco Gas, the NNPCL signed a memorandum of understanding with Gambia and four other nations in December 2022.

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