Business & Finance

NNPC awards contract for protection of key pipeline

The Nigerian National Petroleum Corporation (NNPC) has awarded a contract for the protection of the Trans Forcados pipeline, a key crude export line that is a frequent target of sabotage and oil theft.

The spokesman of the NNPC, Ndu Ughamadu, on Tuesday revealed that more than $32 million was spent this year on repairs to the pipeline, which experienced more than 60 days of outage due to sabotage.

Under the deal, Ocean Marine Solutions Ltd., based in the southern oil hub of Port Harcourt, will police the 87-kilometer (54-mile) pipeline and bear the cost of repairs if there’s a breach,

The Trans Forcados pipeline pumps crude to the Forcados Export Terminal, operated by the Royal Dutch Shell Plc with an average oil flow of more than 250, 000 barrels per day, Ughamadu said.

Source: Voice of Nigeria