By Prince Okafor
In a bid to stem losses associated with incessant pipeline vandalism and sundry security challenges bedevilling the oil and gas industry, the Nigerian National Petroleum Corporation, NNPC, yesterday, said it will establish a security advisory council comprising security agencies, Niger Delta leaders and International Oil Companies, IOCs.
Speaking during a visit to NNPC by the management of Media Trust Limited, the Group Managing Director of NNPC, Dr. Maikanti Baru said: “The corporation has outlined plans to establish a security advisory council aimed at bringing a lasting solution to the perennial problem of pipeline vandalism and sundry security challenges bedevilling the oil and gas industry.
“The security advisory council would involve critical stakeholders, which include security agencies, Niger Delta leaders, IOCs which would address all security and host community agitations.”
He also said that there was need to evolve new measures to bring an end to pipeline vandalism which is a major threat to the nation’s economy, adding, “We want to appeal to those behind indiscriminate acts of infrastructure vandalism to put an end forthwith to these despicable acts which are a great threat to the economy, the eco-system and energy security of the country.”
The GMD also said that the corporation has kick-started the implementation of policies to place the organisation on the path of growth and profitability, through its 12 Business Focus Areas, BUFA.
Aside increasing the nation’s oil and gas reserves to 37 billion barrels of oil and 192 trillion cubic feet of gas respectively, the corporation has also commenced exploratory activities in the Gongola Basin with the aim of further growing oil and gas reserves and taking advantage of low oil prices which make inland exploration cost effective.