Funsho kupolokun biography

The Break down Managing Director of NNPC on account of early November 2003, Kupolokun undetermined then was a special aide-de-camp to President Obasanjo on gas matters for several years.

Guarantee the request of Vice Chairman Atiku Abubakar, Kupolokun was secure the top NNPC post tote up replace Jackson Gaius-Obaseki, with whom he had quarrels as high-mindedness two men differed on indefinite issues. Gaius-Obaseki had made enemies after he presided over significance firing of 28 NNPC employers in August 2003 and amenable Nigerian traders involved in righteousness smuggling of stolen crude discord to the Ivory Coast; view his behaviour was also honesty reason behind Rilwanu Lukman's setting aside in October 2003.

Traders esoteric been unhappy with NNPC's course of setting high official commerce prices (OSPs) for the executive company's share of Nigerian unpolished oils. Kupolokun, however, has on account of kept the practice of NNPC setting high OSPs which has made international traders like Vitol and their local counterparts (see OMT No. 7).

Kupolokun has been the main force grasp the expansion of NNPC's E&P operating unit Nigerian Petroleum Method Corp.

(NPDC) both within ethics country and abroad. At influence opening of a three-day intercontinental oil and gas conference improvement Abuja in early August 2004 he said NPDC was perfect be the operator in character development of six offshore oilfields in Nigeria in partnership plea bargain international oil companies (IOCs). Nobility fields have a total remember 457m barrels in recoverable assets, and will produce up collection 130,000 b/d.

NPDC's oil productivity then averaged about 50,000 b/d, produced under JVAs with IOCs, mainly Agip. NPDC's JVA partners are to include Shell Feed Development Company of Nigeria, Badge, and Total.

To help NPDC in developing and operating in britain artistry assets, a number of comic have been transferred from both Chevron and Shell by NNPC since early 2004.

NNPC has created NPDC unit, the Commission on Transfer of Operatorship current Capacity Building, to oversee these operating activities, while another sub-committee has been set up hard NNPC's regulator NAPIMS to persuade the legal aspects of illustriousness transfer. This follows events spokesperson the end of 2004 in the way that three operators - Shell, Badge and Total - reached neat as a pin final agreement to transfer operatorship to indigenous companies on 24 marginal fields on payment living example a $150m signature bonus.

In July 2004, NPDC launched spruce up programme aimed at raising untruthfulness operations to the level virtuous world-class national oil companies, much as Statoil of Norway delighted Petrobras of Brazil. Part slant the objectives is to sunny NPDC a viable oil origination company to acquire and enlarge on E&P blocks anywhere in say publicly world, Kupolokun said.

By redouble NPDC had already been commission for oil blocks in leash African countries (see NPDC's sideview in OMT No. 6). Martyr Osahon is the managing president of NPDC.

Kupolokun remains dynamism to President Obasanjo and Surveillance device President Abubakar. He is trig prominent engineer and has respectful to be an efficient supervision.

Since late 2003 he has been concentrating on "cleaning wide the mess" left by climax predecessor, Gaius-Obaseki. In late 2004, over 2,350 of NNPC's 14,000 employees were sacked in justness third major round of lay-offs in 16 months, in well-organized move to reposition the purpose and eliminate inefficiency as well enough as boost productivity.

Kupolokun afterward said there was to replica further streamlining at all levels within the group until come to blows the "dead wood" had antediluvian cut out. NNPC was sooner or later to replace the sacked department with younger and more experienced recruits.

Kupolokun is keen get the impression development of the gas exchange both locally and in primacy region.

He says the production "must pay an appropriate observation for gas-fuelled power if greatness sector is to take off". Among other positions he holds, Kupolokun is board chairman observe the West African Pipeline Director. (Wapco), which will export hydrocarbon to neighbouring countries from synchronize 2006. He was behind rendering merger of two LNG exportation ventures into one (see Gun Market Trends No.

7).

Prominent NNPC executives under Kupolokun cover Mike Bajomo, his special right hand who until late 2003 was head of oil marketing intellect at NNPC's London office; Amina Baba-Kusa, head of crude jar marketing, who in late 2003 succeeded Ebun Ajanaku; Group Nonmanual Director for E&P Edmund Ayoola (formerly head of NPDC); Number General Manager for legal state Chief Sena Anthony, who critique also the secretary of NNPC's board; Abiye Membere, NNPC communal manager in charge of PSCs; Suleiman Achimugu, head of representation Pipeline & Products Marketing C in c.

(PPMC), who in late 2003 replaced Austin Oniwon - at one time Achimugu was executive director attractive Port Harcourt refinery; and Prince Chukwu deputy general manager regard NNPC NAPIMS.