$360m disbursed by NNPC, Oil majors for Ogoni clean-up

$360m disbursed by NNPC, Oil majors for Ogoni clean-up

$360m have been disbursed towards the Ogoniland clean-up project by the Nigerian National Petroleum Corporation, NNPC and its joint venture partners as recommended by the United Nations Environment Programme, UNEP.

The Group Managing Director, NNPC, Mallam Mele Kyari, disclosed this during a presentation to the House of Representatives Committee on Environment and Habitat at the National Assembly Complex in Abuja on Monday, according to a statement by the corporation.

The JV partners are Shell Petroleum Development Company, Total Exploration and Production of Nigeria and Nigerian Agip Oil Company who are all involved in the Ogoni clean-up project.

Kyari, who was represented by the NNPC Chief Operating Officer, Upstream, Mr Roland Ewubare, said funding was not a challenge for the Ogoniland clean-up project.

He said, “Ogoni clean-up is a massive issue, and the NNPC and its JV partners are ready to fund the project as prescribed by the UNEP Report.

“We have so far disbursed $360m out of the $900m recommended. The disbursement was based on the standards set, which required that we release funds based on the implementation parameters of the clean-up exercise.”

He noted that although the NNPC and its partners were not responsible for the implementation of the clean-up, all stakeholders must come together to ensure that the project was carried out successfully.



Source: The Punch

Author: abokimallamfx