.Has stakes in 72 oil blocks
.Declares net profit of N3.297trn
Equity stakes by the Nigerian National Petroleum Company Limited (NNPCL) in oil companies operating in Nigeria continue to swell as the company enlarges its business of prospecting, exploration and production of crude oil and gas through various wholly owned assets, joint venture arrangements and production sharing contracts with other companies in the industry as well as boost earnings for the nation.
As of now NNPC Limited has equities in 72 oil blocks spread across oil companies. According to its 2023 audited account released last week, the company has shares in seven deepwater blocks, continental shelf (2), land (53), partial swamp (2), swamp (3), onshore (1) and offshore shallow water (4).
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