NNPC Ltd engages Indonesia delegation on crude supply, oil investments

Nigeria’s national oil company, Nigerian National Petroleum Company (NNPC) Ltd has engaged in discussions with a Indonesia delegation on long-term Nigerian crude supply and investment in the country’s oil and gas assets.

The NNPC GCEO, Bayo Ojulari received an Indonesian delegation led by the country’s Vice Minister of Foreign Affairs, H.E. Arif Havas Oegroseno, in Abuja on Monday as both sides explored ways to deepen energy ties between Nigeria and Indonesia.

The Indonesian delegation expressed interest in securing long-term crude supply arrangements from Nigeria and investing in Nigerian oil and gas assets, including new oil blocks and existing producing and near-producing projects.

The discussions also covered opportunities in shipping, logistics, technical training and capacity development.

Ojulari was represented at the meeting by NNPC’s Executive Vice President, Gas, Power and New Energy, Mr. Olalekan Ogunleye, who highlighted investment opportunities across Nigeria’s integrated energy value chain.

These include upstream oil and gas, gas development, refining, downstream operations, power and renewable energy.

The engagement is expected to provide a platform for both countries to expand their energy relationship, with Indonesia looking at both crude supply and investment opportunities in Nigeria’s petroleum sector.

No specific crude supply agreement or investment deal was announced from the meeting.