MPN operates a Joint Venture with the Federal Government of Nigeria, through the Nigerian National Petroleum Corporation (NNPC). The Federal Government has a 60 percent share, with the remaining 40 percent being MPN.
Since 1961, when the company was granted Oil Prospecting License (OPL) offshore present Akwa Ibom State, MPN has made visible contributions to the development of Nigeria's oil and gas industry. The company and its joint venture partner, NNPC, operate over 90 offshore platforms comprising of about 300 producing wells at a capacity of over 550 thousand barrels a day of crude, condensate and natural gas liquids (NGL).
A series of projects by the joint venture are targeted to increase the current average production level to above one million barrel per day. The East Area Additional Oil Recovery project represents a major investment in a mature operation to extend field life, increase oil recovery and eliminate non-routine gas flaring by injecting produced gas. The East Area project’s 18,000-tonne EAP Gas Compression Facilities platform was set in place at the end of 2005, and set a world record when it was installed in open water using Float-Over Technology. The Natural Gas Liquids (NLG II) project, which has capacity to contribute 45 KBD of natural gas liquids to our total production, is an expansion of the NNPC/MPN Joint Venture’s successful Oso-NGL project, and involved the engineering, procurement, construction, start-up and commissioning of an offshore NGL extraction platform, undersea pipeline infrastructure and expansion of the JV’s existing onshore fractionation and storage facilities at Bonny River Terminal.
Together with the NNPC, MPN maintains a very active community relations programme. It has made substantial contributions in the areas of health, education, sports, water supply, electricity and roads, especially around its operational bases in Akwa Ibom and Rivers States. Presently, the NNPC/MPN joint venture is focusing on sustainable development projects aimed at promoting economic independence for communities in our areas of operations. Through partnerships with reputable NGOs and other organisations, the JV is involved in capacity building, micro financing of small and medium enterprises, healthcare and agriculture. The NNPC/MPN Joint Venture awards 500 scholarships to undergraduate students in Nigerian Universities.