The Nigerian National Petroleum Company Limited has announced the full restoration of the Escravos-Lagos Pipeline System in Warri, Delta State, following a devastating explosion that struck the facility on December 10, while simultaneously pursuing a $2 billion financing deal to upgrade the nation’s pipeline infrastructure.
In a statement signed by Chief Corporate Communications Officer Andy Odeh, NNPC credited the achievement to the unwavering support of host communities, guidance from regulators, vigilance of security agencies, and dedication of its partners and staff. The company emphasized that it turned a challenging moment into a success story, restoring operations in record time while upholding the highest standards of safety and environmental stewardship.
NNPC immediately activated its emergency response following the explosion, deployed coordinated containment measures, and worked tirelessly with multidisciplinary teams to ensure the damaged section was repaired, pressure-tested, and safely recommissioned. The pipeline is now fully operational, reaffirming the company’s resilience and commitment to energy security.
Separately, NNPC is in discussions with Nexus Alliance, a company that supports pipeline infrastructure, regarding $2 billion in financing, according to people with knowledge of the matter. The state-owned oil producer expects to receive the funds early next year and will use the money to repair and upgrade pipelines damaged by theft and vandalism while reducing leaks.
The financing is part of a broader refinancing effort that includes discussions with lenders based in Saudi Arabia. NNPC, which aims to lift oil output to at least 1.8 million barrels a day and increase gas production, targets to attract investment of $30 billion by 2027, with expectations to reach halfway to that goal in 2026. The company maintains its longstanding ambition to sell shares via an initial public offering and is working to improve transparency and accountability to make progress toward that goal.
Sources: thenationonlineng.net, rigzone.com