The National Petroleum Investment Management Services (NAPIMS) in the Exploration & Production (E&P) Directorate is the upstream arm of NNPC that oversees the Federation investment in the Joint Venture Companies (JVCs,) Production Sharing Companies (PSCs) and Services Contract Companies (SCs).
NAPIMS is, therefore, set up to earn margin arising from investments in the JVCs, PSCs, SCs, with the multinationals and also protect the nations strategic interests in the JCVs.In addition, NAPIMS engages in frontier exploration services in basins where the multinationals hesitate to venture, like the Chad Basin.
To be a world-class oil investment management outfit.
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:
Other Major Tasks:
- To maximize Petroleum Profit Tax (PPT) and guarantee a higher Margin (Rate of Return) on Investment, through efficient cost monitoring reduction mechanism.
To ensure that a reserve base is maintained and reserve addition targets are attained. These are: 30 billion barrels by 2002 and 40 billion bopd
by year 2010.
- To increased production capacity from the current 2.5 million barrels of oil per day (bopd) to 3 million bopd in year 2003 and 4 million bopd by
- 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 standards are strictly maintained.
- Diversification of the nations revenue base in the hydrocarbon sector by
actively commercializing natural gas and thereby ensuring gas flare-out by the year 2008.
- Stimulating the (exploration) interest of indigenous and foreign companies in frontier areas.
- Conducting operations in compliance with set environmental and safety standards in all JV/PSC/SC upstream operations.
Managing Federation hydrocarbon resources efficiently as well as ensuring that JV operating arrangements
(Joint Operating Agreement (JOA),
Production Sharing Contract (PSC) and Service Contract (SC) are efficient & effective.