Two Firms Commit To Oil Production Boost

A Niger Delta-based indigenous Petroleum Development Company, Belemaoil Producing Limited and Seplat Petroleum Development Company, have pledged a Joint effort to improve local participation in the petroleum industry.
The two indigenous companies made the pledge in Port Harcourt during the inauguration of Assets Management Team for Belemaoil/Seplat Joint Operation of OML55.
President of Belemaoil Producing Limited, by Jackrich Tein said that the deal represents a partnership of two leading Nigerian exploration and producing companies to bring a noval approach in creating and maximizing shareholders value in the Nigerian oil and gas sector  Jackerich Tein said that in the first six months of operations, Belemaoil has increased production by more than 25 percent, stressing that the company believes that economic growth will be sustained, when there is peace and the people partake to create and share value.
“This asset management partnership therefore will leverage on the strength of these two globally and locally dependable companies to not only create value for its shareholders and stakeholders but enhance the social performance reputation of the Nigerian oil and gas industry”, he said.
Also speaking the Chief Executive Officer of Septlat Petroleum Development Company, Mr. Austin Avuru said that the partnership will lead to job creation as well as enhance the revenue of the Federal Government.
Avuru said that the ceremony will lead to the distribution of wealth across communities in the Niger Delta.
Meanwhile, the Nigerian National Petroleum Corporation (NNPC) says it is working hard to improve the capacities of indigenous firms to fund oil operations in the country.
Group General Manager of National Petroleum Investment Management Services (NAPIMS), Mr. Marcel Ogbonna Amah who said this during the inauguration said that the move will help generate more revenue for the federal Government.