SAN FRANCISCO, September 10, (THEWILL) – The Nigerian National Petroleum Corporation (NNPC) has said it spent a total of N41.98bn on pipeline repairs and management cost in the first six months of the year 2020.
The NNPC disclosed this in its latest monthly oil report, saying, “Products theft and vandalism have continued to destroy value and put NNPC at disadvantaged competitive position.”
It said a total of 33 pipeline points were vandalised in June 2020, representing about 11 percent decrease from the 37 points recorded in May.
The NNPC said, “Mosimi-Ibadan accounted for 33 percent while ATC-Mosimi and Warri-River Niger recorded 27 percent of the breaks each; other locations make up for the remaining 13 percent.
“NNPC in collaboration with the local communities and other stakeholders continuously strive to reduce and eventually eliminate this menace.”
The corporation said it spent N5.48bn on pipeline repairs and management cost in January; N6.74bn in February; N7.69bn in March; N7.84bn in April; N7.99bn in May and N6.24bn in June.
The corporation noted that over the years, the pipeline network had suffered incessant unauthorised interference, adding that this was one of the strongest drivers for the introduction of horizontal directional drilling to the scope of the project.
It said the new pipelines would have intrusion detection and cathode protection systems to complement the deep burial.
