The Nigerian National Petroleum Company Limited and the Gambian National Petroleum Company have signed a Memorandum of Understanding for several purposes, including the expansion of the crude market and oil exploration. The MoU was signed by both parties at NNPC Ltd.’s Abuja headquarters as the national oil firm of Nigeria continues to increase oil production both within and outside of Nigeria.
Danladi Inuwa, the Executive Vice President for Business Services at NNPC Ltd., and Baboucarr Njie, Managing Director of GNPC, signed on behalf of the two national oil companies. The agreement is for cooperation in the oil and gas sector.
According to a statement from NNPC Ltd, “Areas of interest include new frontier exploration, crude oil market expansion opportunities and transfer of technology towards the quest for more energy security for both countries and the West African sub-region.”
After recently reporting that it had discovered crude in Nasarawa State, Mele Kyari, the group Chief Executive Officer of NNPC Ltd., revealed last week that the oil company would start drilling for crude oil in Nasarawa State on March 21, 2023. Crude oil exploration in Nasarawa State has been going on since late 2010.