Nigeria‘s state-owned oil company, NNPC Limited, has announced an ambitious strategy. This comprehensive plan aims to significantly boost national oil output. Concurrently, the company targets securing substantial capital, aiming for up to $30 billion by 2030 through various strategic initiatives.
New Field Development
A central component of this strategy involves developing new oil fields. NNPC Limited plans to commence this development next year. This crucial initiative directly supports the overarching goal of increasing Nigeria’s overall oil production capacity and reserves.
Funding Initiatives
NNPC Limited is pursuing multiple avenues to achieve its ambitious $30 billion fundraising target. These initiatives form a comprehensive financial strategy designed to attract investment. The company explores several options to maximize capital generation and reinvestment into its core operations.
Asset Divestment
The state producer is actively considering divestments as one such avenue. Specifically, it will evaluate its non-performing assets for potential sale. This strategic move seeks to streamline operations, enhance efficiency, and free up capital for more productive core investments within the energy sector.
Future Bid Rounds
Furthermore, NNPC Limited also expects to launch new bid rounds. These upcoming rounds will target fresh exploration and production opportunities across Nigeria. The company anticipates initiating these bids early in 2026, inviting both local and international partners to invest further into the nation’s oil and gas sector.
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