NAPIMS

[t_okosun]

NATIONAL PETROLEUM INVESTMENT MANAGEMENT SERVICES :(NAPIMS)
FEDERAL SECRETARIATE COMPLEX,
MAITAMA SULE, ABUJA F.C.T
TELEPHONE NO: 234 -8035653870

ATTENTION : OWNER

The Petroleum Investment Management Services (NAPIMS) in the Exploration
& Production (E&P) Directorate is the Upstream arm of NNPC that oversees
the Federation investments in the Joint Venture Companies (JVCs), Production
Sharing Companies (PSCs) and Services Contract Companies (SCC).

NAPIMS is, therefore, set up to earn margin arising from investments in
the JVCs, PSCs and SCs with the multinationals and also protect the nation's
strategic interests in the JVCs.
In addition, NAPIMS engages in frontier exploration services in basins where
multinationals hesitate to venture, like the Chad Basin.
Vision: To be a world class oil investment management outfit.
Mission Statement: To optimize the benefits accruing to the Federation from
its investments in the Upstream Sector of the Petroleum (Oil & Gas) Industry.

Major Strategic Roles of NAPIMS:
To maximize Petroleum Profit Tax (PPT) and guarantee a higher Margin (Rate
of Return) on Investment, through efficient cost monitoring reduction mechanisms
.
To ensure that a reserve base is maintained and reserve addition targets
are attained. These are 30 billion barrels by year 2002 and 40 billion barrels
by year 2010.
To ensure increased production capacity from the current 2.5 2n barrels
of oil per day (bopd) to 3 million (bopd) by year 2003 and 4 million bopd
by year 2010 .
To encourage gas utilization and commercialization
To promote local content input in engineering and construction, supplies
and materials utilization through in country technological capability .
To enhance Nigerianization in the industry and facilitate technology transfer
.
To promote maximum co-operation in communities of oil and gas producing
areas as well as ensure that environmental protection do as are strictly
maintained.

As an executive director of the above named agency I am involved in the
award of major contracts to foreign contractors. One of the numerous contracts
we awarded was to refurbish our moribund four national refineries. However,
they are still not working to 100% capacity utilization. This has resulted
in serious crisis in the oil industry and necessitated in the price increases
of petroleum products. There has been mounting pressure on the Nigerian
government to probe the NNPC and its subsidiaries. As a matter of fact the
National assembly has already started this probe exercise. To avoid the
imminent shakeup, which has already taken its toll on the former Group Managing
Director of Nigeria National Petroleum Resources, Dr. Jackson Gaius-Obaseki,
has been dismissed from office and has been replaced by Mr. Funsho Kupo-lokun,
from the aftermath of this forgoing. I am looking for foreign investor I
could front as partner. This investor will assist us invest the sum of US$59.5M
(FIFTY NINE MILLION FIVE HUNDRED THOUSAND UNITED STATES DOLLARS). Please
if interested get back to me by email so that I could discuss further details
and modality of the transaction with you.


NOTE:
You can also reply me through email No:address@hidden


I thank you.

Yours Sincerely,
DR. THOMAS OKOSUN











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