Corporation partners Chinese investors for crude research and development

chika ebuzor

May 25, 2017 4:38 AM

NNPC said the partnership arose from the need to seek a fortune in a non-core oil sector to stay afloat.

NNPC Tower

The Nigerian National Petroleum Corporation (NNPC), on Wednesday in Abuja said it had established contacts with some Chinese investors to partner in its Research and Development venture.

A statement by Mr Ndu Ughamadu, NNPC Group General Manager, Group Public Affairs Division, said the partnership arose from the need to seek a fortune in a non-core oil sector to stay afloat.

According to the statement, the NNPC Chief Operating Officer, Ventures, Dr Babatunde Adeniran, at the 10th edition of the Annual Sub-Saharan Africa Oil and Gas Conference in Houston, Texas, has said response from the Chinese prospects has been favourable and from American investors.

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He said the non-core sectors that were of interest to the NNPC were in healthcare, shipping and telecommunications.

Adeniran said NNPC had more than 52 clinics across the country and was poised to take advantage of the gaps in the healthcare delivery in Nigeria.

He enjoined oil companies worldwide to think outside the box to fix challenges currently plaguing the industry.

chika ebuzor