To enhance the benefits accruing to the Federation from its investments in the upstream petroleum industry through effective cost control and supervision of JV and PSC operations, as well as opening up new frontiers.
Current Operations (Mandate):
- Efficient deployment of resources for low cost operation with a view to yielding optimum Revenue for Government assets.
- Actualization of Government agenda in the operations of JV/PSC assets.
- Spearheading introduction of new technology development in the industry and sharing of best practices.
- Eliminate Gas flaring by year 2010
- Achieve an accelerated Monetization and commercialization of Gas resources.
- To attain and sustain oil productivity level of 4.5million barrels per day by 2010.
- Achieve and maintain reserve base of 40 billion barrels by 2010 and generate as much revenue from Gas as from oil by 2010.
- Maximize sector value and improve transparency in transactions.
- Achieve 70% in Local Content by 2010.
- Carry out major reforms to improve NAPIMS capability to manage government’s interest.
Head Office: 8-10, Bayo Kuku Road, Ikoyi, Lagos.
Operational Office: 36, Gerald Road, Ikoyi, Lagos.
Gas Division: 1, Adeyemi Lawson, Ikoyi, Lagos.
Business Office: 30, Queen’s Drive, Ikoyi, Lagos.
Telephone: +234- 1-7901215, 2719028, 7901217