Determined to ensure that Nigerians are not short-changed in the various joint venture sharing arrangements between the Nigeria National Petroleum Corporation (NNPC) and major international oil companies, the House of Representatives is examining all existing agreements tagged ‘cash calls budget performance for 2013.
The House Committee on Petroleum Resources (Upstream) has therefore, summoned the management of National Petroleum Investment Management Services (NAPIMS) to appear before it on November 18, with all necessary documents.
NAPIMS is a subsidiary of Nigerian National Petroleum Corporation (NNPC). It is charged with the responsibility of managing Federal Government’s investment in the upstream sector of the oil and gas industry.
In the same vein, the Chief Executive Officers of major International Oil Companies (IOC) operating in the country have been summoned to appear before the committee on November 14, to defend the Joint Venture agreements they have with NAPIMS.
Those invited are the CEOs of Shell Petroleum Development Company Limited, Mobil Producing Nigeria Unlimited, Chevron Nigeria Limited, Total Exploration and Production Nigeria limited, Nigeria AGIP OIL Company Limited, and Pan Ocean Oil Corporation.
Muraina Ajibola who chairs the Committee on Petroleum Resources, Upstream, briefed newsmen about the committee’s resolution.
Justifying the decision of the House to look into the agreements, Ajibola , said “We need this information for us to do our job properly”, adding that it would ensure that Nigerians are not short-changed through the cash calls agreement with the IOCs.