(Ecofin Agency) - The Nigerian Minister of State Petroleum Resources, Dr. Emmanuel Kachikwu and senior executives from the Nigerian National Petroleum Company (NNPC) this week made a visit to the United Arab Emirate (UAE) to meet with various government officials and major energy companies and discuss possible investment prospects in Nigeria.

They were received by Alpha Group of Companies’ Chairman and CEO, Sheikh Mohamed Bayorh, and other senior executives including, Suhail Al Mazrouei (photo), Minister of Energy and Chairman of IPIC, senior executives from ENOC and Al Ghurair Group. Other international global energy companies including China National Petroleum Corporation (CNPC) and DSSI.

“We were extremely honored to organize and host His Excellency Dr. Kachikwu's inaugural trip to UAE as the Minister of State Petroleum Resources. We commend him greatly for his keen vision and leadership in transforming the oil and gas sector in Nigeria and increasing international investor’s confidence in exploring opportunities in working with the Nigerian National Petroleum Corporation”, Sheikh Mohamed Bayorh said.

According to Wang Baoji, President CNPC Middle East and Africa, Nigeria has remarkable opportunities in the oil and gas sector. Due to this, the company has plans to do business with the new administration.  

In the meeting, NNPC saw the chance of alternative financing proposals from various major finance houses including ME-A and Euro American to back their expansion plans

“We have a plan called ‘20 Fixes’ to increase NNPC’s profitability and one of them is to increase our refining capacity to reduce foreign imports,” Kachikwu said

Meanwhile Sultan Al Ghurair, the CEO for Al Ghurair Energy in his comment stated that the company can share its refinery operating skill with NNPC. He noted that the company succeeded in boosting both its revenue and capacity in a short while with their Libyan refinery joint venture operation with Libya’s national oil company.

This visit is anticipated to encourage a mutual partnership between Nigeria and UAE’s National oil companies, Press Release Network reports.