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NATIONAL PETROLEUM INVESTMENT MANAGEMENT SERVICES

The Petroleum Investment Management Services (NAPIMS) in the Exploration & Production (E&P) Directorate is the Upstream arm of NNPC that oversees the Federation investments in the Joint Venture Companies (JVCs), Production Sharing Companies (PSCs) and Services Contract Companies (SCC). NAPIMS is, therefore, set up to earn margin arising from investments in the JVCs, PSCs and SCs with the multinationals and also protect the nation's strategic interests in the JVCs. In addition, NAPIMS engages in frontier exploration services in basins where the multinationals hesitate to venture, like the Chad Basin.

 

Vision: To be a world class oil investment management outfit.

Mission Statement: To optimize the benefits accruing to the Federation from its investments in the Upstream Sector of the Petroleum (Oil & Gas) Industry.

Major Strategic Roles of NAPIMS:

  • To maximize Petroleum Profit Tax (PPT) and guarantee a higher Margin (Rate of Return) on Investment, through efficient cost monitoring reduction mechanisms
  • To ensure that a reserve base is maintained and reserve addition targets are attained. These are: 30 billion barrels by year 2002 and 40 billion barrels by year 2010
  • To ensure increased production capacity from the current 2.5 2n barrels of oil per day (bopd) to 3 million (bopd) by year 2003 and 4 million bopd by year 2010
  • To encourage gas utilization and commercialization
  • To promote local content input in engineering and construction, supplies and materials utilization through in country technological capability
  • To enhance Nigerianization in the industry and facilitate technology transfer
  • To promote maximum co operation in communities of oil and gas producing areas as well as ensure that environmental protection do as are strictly maintained.

Other Major Tasks:
Diversification of the nation's revenue base in the hydrocarbon sector by actively commercializing natural gas and thereby ensuring gas flare out by year 2008. Stimulating the (exploration) interest of indigenous and foreign companies in frontier areas. Conducting operations in compliance with set environmental and safety standards in all JV/PSC/SC upstream Operations. Managing Federation hydrocarbon resources efficiently and effectively as well as ensuring that JV operating arrangements Joint Operating Agreement (JOA), Production Sharing Contract (PSC) and Service Contract (SC).

For More Details Visit: www.nnpc.com.ng

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