OREANDA-NEWS. December 04, 2012. The Group Managing Director of the Nigeria National Petroleum Corporation Engr. Andrew Yakubu has signed a two year Performance Commitments with three of the Group Executive Directors of the Corporation.

At the signing of the commitment in Abuja, the GMD noted that one of his top priorities is to re-establish and further strengthen performance management in NNPC, which he noted was in line with the directive of the President that all MDAs have performance contract with their top executives. The President had earlier in August 2012 signed performance contract with Ministers in his cabinet.

Engr.Yakubu said that the performance commitments will be reviewed on a quarterly basis and necessary actions taken to enable the achievement of business objectives.

Among those who signed the performance commitment with the GMD were the Group Executive Director, Exploration and Production Engr.Abiye Membere, the Group Executive Director, Refining and Petrochemical Engr. Anthony Ogbuigwe and the Group Executive Director Gas and Power, Dr. David Ige.
 Some of the business objectives highlighted by the Exploration and Production Directorate hinged on increasing NPDC’s oil production to 215,000 barrels per day and to ensure the full monetization of 390 mmscfd of gas by 2014 among other targets.

The Refining and Petrochemical Directorate plans to rehabilitate all the three refineries; upgrade staff competency levels through training and manpower development programmes as well as increase the refinery capacity utilization to 90 percent after the rehabilitation exercise on the refineries.

The Gas and Power Directorate on its part, plans to position for net income of 300million dollars while targeting 1 billion dollars excluding gas export by 2020. The directorate also plans to expedite delivery of LNG projects and increases value through downstream access in high value markets.

Also at the session, Managing Director of the Petroleum Product Marketing Company (PPMC), Mr Haruna Momoh made a presentation which highlighted some of the efforts and challenges being faced at ensuring sufficient petroleum products supply to the Nigerian consumers. He also presented a draft performance target for PPMC.
 The signing of performance commitments with the other GEDs, MD, PPMC and GGM COMD will be done in due.