By Obafemi Oredein
IBADAN, Nigeria--The China National Offshore Oil Corporation currently produces 800,000 barrels of oil per day worldwide and plans to raise the output to 1.2 million barrels per day, its vice president Lu Yan Ji said Thursday.
Speaking at a meeting with Mele Kyari, head of Nigeria's National Petroleum Corporation, in Abuja, Mr. Ji said Nigeria was one of the targeted places to actualize the target.
He said Nigeria was one of his company's largest investment destinations, with an investments outlay of about $16 billion in the West African country, and sought the NNPC's support in securing the investments, according to an NNPC statement.
CNOOC currently has interest in Oil Mining Lease (OML) 130 in partnership with the NNPC, Total and Petrobras, the statement said, adding that the Chinese company began business in Nigeria in 2005.
Mr. Ji said it was necessary for the NNPC and CNOOC to work closely together.
Mr. Kyari commended CNOOC for its plan to expand its investment in the Nigerian petroleum industry and assured it of the corporation's support.
"To have investment of $16bn in Nigeria is clearly an indication of your confidence in us. We have a target to grow production to 3m barrels per day by 2023, to do that, we need partners like you. You can count on us because we have common interest," Mr. Kyari said.
Nigeria is Africa's largest crude oil exporter and the administration of President Muhammadu Buhari has close ties with China, while several development projects in Nigeria like railway, roads, bridges and dams are handled by Chinese companies.