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Tag: NEITI

  • NEITI to address oil, gas sector challenges

    The Nigerian Extractive Industries Transparency Initiative (NEITI), said it was commited to addressing the remedial issues in the  oil and gas sector.

    These issues include metering and measurement infrastructure, crude and product losses, payment issues, Nigerian Petroleum Development Commission (NPDC), divested assets, governance and regulatory issues. Others are production sharing contracts (PSCs), expired memorandum of understandings (MoUs), as well as domestic crude allocation and refining capacity.

    NEITI challenged the civil society and the media to wake up to their responsibilities by helping to address the remedial issues in the oil and gas sector, saying it is not something that should be left to NEITI alone.

    During a programme on civil society and media consultations on remedial actions with the theme: “Fixing the gaps together: Towards a collaborative approach to extractive sector remediation”, in Abuja, NEITI stressed the importance of its collaboration with the civil society and the media to right the wrongs in the oil and gas sector by making its operation and activities as transparent as possible and add value to the lives of the people through infrastructural provision, including electricity, education and health facilities, among others.

    Its Executive Secretary, Waziri Adio, said implementation of all the recommendations would serve the country interest and its citizens. According to him, with more money coming from the sector, government will be able to attract more revenues and have more money to spend on infrastructure which will eventually benefit businesses.

    He said: “We will have a lot to gain as a country for implementing these recommendations and cleaning up our extractive sector in such a way it will be for the benefit of all Nigerians,” there is need for the sector to be run with transparency and accountability.”

    Adio, who maintained that Nigeria is endowed with abundant mineral and natural resources, questioned why poverty was still the order of the day. He noted that this has given rise to high rate of corruption, conflicts and crimes, among other social vices.

    “NEITI will do its part, we need the National Assembly to do its part, we need the executive arm of the government to do its part, we need citizens to do their own part, that is when the change that we are looking for can come,” he added.

    Civil Society Legislative Advocacy Centre (CISLAC) Programme Manager, Kolawole Banwo said the civil society was working especially for the strengthening of the Inter-Ministerial Task Team (IMTT)

    “We are engaging in advocacy to strengthen it and ensure that there is a remediation plan that will be made public for citizens to engage,”he said,  adding that part of the problems is that they are mutually self-accounting and do not usually account to any higher authority

  • NEITI to President: sign PIGB bill, others

    The Nigeria Extractive Industries Transparency Initiative (NEITI) has said the delays in  passing into law the Petroleum Industry Governance Bill (PIGB) and other relevant bills are responsible for the stagnation of investment opportunities in the oil and gas sector.

    It urged the Presidency to assent the bills.

    NEITI stated this at a symposium in Abuja on agenda-setting on the PIGB, which has been passed and harmonised by the National Assembly.

    The agency said: “Time is running out over Nigeria’s inability to put in place the necessary laws required to fix the numerous governance problems confronting the oil and gas sector.”

    According NEITI Executive Secretary Mr. Waziri Adio, the event was aimed at building on the PIGB passage by the Senate and the House of Representatives.

    He said: “Now that we are hopefully close to the end of these circuitous journeys, it is important for us to focus on the next tasks in a way that will proactively and strategically ensure that the intentions of the proposed laws are fully realised; that we have not undertaken the long journey in vain.

    “NEITI published a policy brief in October 2016, entitled: “The urgency of a new petroleum sector law”.

    ‘’The paper estimated the cost of business uncertainty, lack of clarity and adequate transparency mechanism in eight years at more than $200 billion. The paper showed how Nigeria was increasingly in competition for oil and gas investment with many other African countries, and not to talk of other jurisdictions.”

    The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, represented by the Senior Technical Assistant, Mr Johnson Awoyomi, underlined the importance of early passage of laws required to reposition the sector, in view of the strategic implications on increasing revenue generation, inflow of investments, job creation and improved governance of the industry.

    He said: “The long-held aspiration of the upstream sector is to grow crude oil reserves to 40 billion barrels and production to four million barrels of oil per day (bpd), improving local content, maximising sector’s value and most importantly derive as much revenues from oil and gas. ‘’

  • NEITI advises Presidency on PIGB assent

    The Nigeria Extractive Industries Transparency Initiative (NEITI) has said the protracted delays in the passage into laws of the Petroleum Industry Governance Bill (PIGB) and other relevant bills, including the fiscal petroleum and the host community bills, were responsible for the uncertainties and stagnation of investment opportunities in the Nigerian oil and gas sector. It urged the Presidency to assent it to make it become law.

    NEITI said this after a symposium in Abuja to set the agenda on the Petroleum Industry Governance Bill (PIGB), which has been passed and harmonised by the two chambers of the National Assembly, Senate and House of Representatives.

    The agency said: “Time is running out over Nigeria’s inability to put in place the necessary laws required to fix the numerous governance problems confronting the oil and gas sector.”

    According to the Executive Secretary, NEITI, Mr. Waziri Adio, the motive for convening the symposium was to discuss what needed to be done to build on the successes recorded so far by the passage of the PIGB by both the Senate and the House of Representatives.

    He said: “Now that we are hopefully close to the end of these circuitous journeys, it is important for us to focus on the next tasks in a way that will proactively and strategically ensure that the intentions of the proposed laws are fully realised; that we have not undertaken the long journey in vain.”

    “NEITI published a policy brief in October 2016, entitled: “The urgency of a new petroleum sector law.” The paper estimated the cost of business uncertainty, lack of clarity and adequate transparency mechanism in eight years at more than $200 billion. The paper showed how Nigeria was increasingly in competition for oil and gas investment with many other African countries, and not to talk of other jurisdictions.”

    The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu represented by the Senior Technical Assistant, Mr Johnson Awoyomi, underlined the importance of early passage of the relevant laws required to reposition the sector in view of the strategic implications towards increasing revenue generation, inflow of investments, job creation and improved governance of the industry.

  • NEITI urges Presidency to fast-track PIGB assent for industry growth

    The Nigeria Extractive Industries Transparency Initiative (NEITI) has said the protracted delays in the passage into laws of the Petroleum Industry Governance Bill (PIGB) and other relevant bills including the fiscal petroleum and the host community bills were responsible for the uncertainties and stagnation of investment opportunities in the Nigerian oil and gas sector, urging the Presidency to assent to it to make it become law.

    NEITI stated this after a symposium held in Abuja to set the agenda on the Petroleum Industry Governance Bill (PIGB), which has been passed and harmonized by the two chambers of the National Assembly, Senate and House of Representatives.

    The agency said: “Time is running out over Nigeria’s inability to put in place the necessary laws required to fix the numerous governance problems confronting the oil and gas sector.”

    According to the Executive Secretary, NEITI, Mr. WaziriAdio, the motive for convening the symposium was to discuss what needed to be done and urgently too to build on the successes recorded so far by the passage of the PIGB by both the Senate and the House of Representatives.

    He said: “Now that we are hopefully close to the end of these circuitous journeys, it is important for us to focus on the next tasks in a way that will proactively and strategically ensure that the intentions of the proposed laws are fully realized; that we have not undertaken the long journey in vain.”

    “NEITI published a policy brief in October 2016, entitled “The Urgency of a New Petroleum Sector Law.” The paper estimated the cost of business uncertainty, lack of clarity and adequate transparency mechanism in eight years at more than $200 billion. The paper showed how Nigeria was increasingly in competition for oil and gas investment with many other African countries, and not to talk of other jurisdictions.”

    The Minister of State for Petroleum Resources, Dr. Emmanuel IbeKachikwu represented by the Senior Technical Assistant, Mr Johnson Awoyomi, underlined the importance of early passage of the relevant laws required to reposition the sector in view of the strategic implications towards increasing revenue generation, inflow of investments, job creation and improved governance of the industry.

  • NEITI seeks more reforms in oil, gas sector

    The Nigeria Extractive Industries Transparency Initiative (NEITI) has appealed to the National Assembly to use its audit reports to push for more reforms in the oil and gas industry.

    Its Executive Secretary (ES), Waziri Adio, made the appeal in Abuja while receiving members of the House of Representatives’ Committee on Petroleum Upstream who were on oversight visit to NEITI secretariat.

    In a statement, Adio explained that NEITI reports contain information and data on company payments and government receipts as well as the lapses and remedial actions required in the industry.

    He said: “We see the parliament as important partners not just because we are answerable to you and we need you to approve our budget but because our reports can and should be inputs to your important work.”

    Adio expressed concern that several reports with far-reaching recommendations had been placed in the public domain with challenges of implementation. He, therefore, urged the National Assembly to study the reports as important documents, adding it will aid their oversight representative and law-making responsibilities.

    In the report, the ES told the lawmakers that NEITI’s decision to develop a new strategic plan to cover  2017 to 2021 was to deepen openness and shape positively the governance of the sector through policy engagement, thought leadership and inter agency collaboration.

    He identified funding, manual data collection and human capacity development as major challenges.

    He praised the National Assembly for the passage of the Petroleum Industry Governance Bill (PIGB), noting the development is in support of the mandate of NEITI to strengthen reforms in the industry and key to promoting investments and better revenue generation.

     

     

     

     

  • NEITI to NNPC: account for $16.8bn NLNG dividends

    NEITI to NNPC: account for $16.8bn NLNG dividends

    What became of the $16.8 billion Nigerian Liquified Natural Gas (NLNG) dividends in the custody of the Nigerian National Petroleum Corporation (NNPC)?

    That is the big question the Nigerian Extractive Industries Transparency Initiative (NEITI) wants the NNPC to answer immediately.

    The transparency initiative in its 2015 Oil and Gas Industry Audit Report released yesterday in Abuja said the NNPC confirmed receipt of the payments but has no evidence of remittance into the Federation Account.

    The watchdog organisation also said Nigeria’s oil and gas revenues plunged from $54.5 billion in 2014 to $24.8 billion in 2015, while oil production plummeted from 798 million barrels in 2014 to 776 million barrels in 2015.

    The report similarly shows that Nigeria recorded a net loss of over $723 million through the Offshore Processing Arrangement (OPA) adopted by the Federal Government in 2015 to supply refined petroleum products in the country.

    The arrangement, which was introduced by the NNPC during the Jonathan administration, involved the allocation of crude oil to select indigenous and foreign oil traders under agreed swap contract terms in exchange for refined products for local consumption.

    It said: “In 2015, the Nigeria Liquefied Natural Gas Limited (NLNG) paid $1.07 billion as dividend, interest and loan repayment to NNPC, broken down as follows: $1.04 billion as dividends, $3.1 million as interests, and $29.1 million as loan repayment.

    “This brings to a total of $16.8 billion NLNG’s payments to NNPC for the period 2000 to 2015. The payments are for the loan grant to NLNG and for the 49 per cent stake that the government holds in the company.”

    “While NNPC has always confirmed receipt of the payments, it has never shown evidence of remittance to either the Federal Government or to the Federation Account.

    “NNPC maintains that it has authorization from the presidency to hold the dividends in trust and utilize as directed by the government.

    ”NEITI recommends that NNPC should provide documentary evidence of the authorization to hold the money in trust and to give account of the expenditure from and the status of the $16.8 billion collected in 16 years.”

    It put the total outstanding revenue from the sector as at 2015 at $3.7 billion and N80 billion, while losses incurred stood at $2.2 billion and N60 billion, and un-reconciled revenues put at N317 billion.

    The organisation added: “Beyond providing a snapshot of what transpired in 2015, this report reveals money to be recovered, leakages to be blocked and urgent reforms to be undertaken.

    ”The most critical take-away is the need to expedite, expand and sustain reforms in this still critical sector of national life.”   

    The report shows that Nigeria suffered a 54.6% decline in oil revenues but only a slight 2.7% fall in oil production.

    This development was attributed to “drastic reduction in the unit price of crude oil in the global market.”

    The yearly average price of crude oil per barrel tumbled from $101.91 in 2014 to $52.16 in 2015.

    Oil and gas revenues have been declining since 2011 when total revenues peaked at $68.4bn.

    A five-year analysis in the report reveals that revenues declined by 8%, 7.7% and 6% in 2012, 2013 and 2014 respectively. However, the decline leapt to double digits in 2015 when total revenue dwindled by more than half.

    Total oil production also dropped but not by much: from 798 million barrels in 2014 to 776 million barrels in 2015.

    The report attributed the decline to oil theft and militancy.

    However, total gas production went up by 20.23% from 2, 593,090 million standard cubic feet per day (mmscf) in 2014 to 3, 250, 667 mmscf in 2015. The jump by a fifth was on account of the combined effect of increase in gas utilization and decline in gas flaring.

    A total of 780 million barrels of oil was lifted in 2015, about four million barrels higher than the quantity produced with the balance drawn from previous years.

    Of the 780 million barrels, the companies lifted 467 million barrels while NNPC lifted 313 million barrels. NNPC’s liftings were split almost evenly between Federation Export and Domestic Crude Allocation, which accounted for 159.4 million barrels and 153.9 million barrels respectively.

    However, only 8.7 million barrels or 5.6% of crude oil allocated for domestic consumption went to the refineries in 2015 on account of the dysfunctional state of the refineries.

    It noted that the volume of crude oil declared lost to theft by 13 operators in 2015 was 27.1 million barrels.

    Continuing, the report said: “Though this amounted to only 3.5% of total oil production, the loss was valued at $1.4 billion. PPMC also declared loss of crude worth $25 million, bringing the total declared losses to $1.45 billion.

    This brings the established loss to theft from 2011 to 2015 to a total of 113.1 million barrels valued at $11billion. Also, PPMC declared losing products worth N56.4 billion, broken down as follows: N52 billion for losses on petrol, N3.8 billion for losses on diesel, and N123 million for losses on kerosene.

    “Deferred production on account of sabotage or repairs came to 57 million barrels. NEITI reiterates its call for effective and adequate metering infrastructure and enhanced security of our oil and gas assets.”

    NEITI recommended close monitoring of the Direct Sale Direct Purchase (DSDP) arrangement that replaced the OPA to ensure the country is not being shortchanged. It also called for government to recover the $498m OPA liabilities from the affected companies.

    ”From the report, NPDC (the upstream arm of NNPC) reduced its legacy liabilities from $1.45 billion and N80 billion in 2014 to $757 million and N68 billion in 2015. However, NPDC incurred liabilities of $822 million and N9.6 billion in 2015, bringing its total liabilities at the end of 2015 to $1.5 billion and N78 billion,” it said.

  • FG, others shared N4.55tr in 9months, says NEITI

    FG, others shared N4.55tr in 9months, says NEITI

    DIRECTOR Communications, Nigeria Extractive Industries Transparency Initiative (NEITI), Dr. Orji Ogbonnaya Orji has said the total sum of N4.545 trillion was disbursed as Federation Allocation Account Committee (FAAC) FAAC allocations between January and September 2017.

    He said Out of this amount, N1.757 trillion was shared in the third quarter of 2017 as against the N1.377 trillion and N1.411 trillion disbursed in the second and first quarters of the year adding the information is contained in the latest Quarterly Review of NEITI.

    In a statement made available to The Nation Ogbonnaya Orji said the publication which contained  information and data on FAAC disbursements for the third quarter of 2017 and on mid-year budget implementation also showed that between January and September 2017, the federal government received the highest allocation of N1.851.32 trillion, followed by state governments with N1.509 trillion and the 774 local governments with N913.8 billion adding the sum of N271.78 billion went to the Department of Petroleum Resources (DPR), Customs and the Federal Inland Revenue Services (FIRS) as cost of revenue collections.

    He said further analysis showed that the revenues shared to the federating units were higher in the third quarter of 2017 which according to him has been the pattern for some years now.

    While the federal government got N549.41billion in the second quarter of 2017, third quarter figures were N752.79billion, an increase of 37.02per cent. According to him, the trend is the same for the states and local governments which he said received N586.58billion and N363.98 billion in the third quarter as against N467.13 and 280.42 billion in the second quarter respectively adding the percentage increases between the two quarters for the two tiers of government were 25.57per cent and 29.80per cent respectively.

     

  • Solid minerals sector generated N69.2bn in 2015, says NEITI

    Director, Communications and Advocacy, Nigeria Extractive Industries Transparency Initiative (NEITI), Orji Ogbonnaya Orji has said Nigeria earned N69.2 billion from the solid minerals sector in 2015, an increase of 24 per cent on the N55.8 billion earned from the sector in 2014, he added.

    This disclosure was contained in the latest independent audit report of NEITI following the approval of the report by the National Stakeholders Working Group (NSWG).

    In a statement made available to The Nation the total production of solid minerals in the country stood at 39.27 million tons, representing a reduction of 17per cent from the 47.1 million tons produced in 2014 adding the drop in 2015’s production was as a result of insecurity in parts of the country and more stringent approval process for explosives used in mining.

    Meanwhile, the report called for the speedy release of the N30 billion solid minerals development fund recently approved by the Federal Executive Council to the intended beneficiaries in order to support some of the activities already stipulated in the roadmap for the sector adding it would help to sustain the growth and further enhance the capacity of the sector to contribute to the economy.

    Ogbonnaya Orji said while mineral production reduced, government revenues went up in the same year, “This increase in revenue was due to the growth in taxes collected from the sector and review of royalty rates paid by companies which came into effect within the year under review,” adding NEITI’s previous solid minerals audit reports had recommended upward review of Nigeria’s royalty rates to align with prevailing industry and present day realities.

  • NLC, NEITI, others: NNPC ‘scandal’ must be investigated

    NLC, NEITI, others: NNPC ‘scandal’ must be investigated

    The calls for investigation of the contract debacle at the Nigerian National Petroleum Corporation (NNPC) have refused to abate. More groups, including the Nigerian Extractive Industries Transparency Initiatives (NEITI), the Nigeria Labour Congress (NLC), Africa Network for Environment and Economic Justice (ANEEJ) and the Socio-Economic Rights and Accountability Project (SERAP), added their voices to the growing list of pro-probe NNPC advocates.

    The All Progressives Congress (APC), however, declined comment on the controversy. Its National Publicity Secretary, Mallam Bolaji Abdullahi, told reporters: “We can’t comment on that now. In fact, we have no comment on it.”

    NEITI Technical Adviser Dr. Dauda Garuba urged the President to wade into the crisis because $25 billion is too huge an amount to consummate its contract without due process.

    He said: “Whichever way one looks at it, N25 billion is too huge an amount to  build contracts around without due process. We are supposed to be a country guided by rules and procedures. We must make Nigeria work.”

    Garuba said that if it is established that there are infractions as alleged by the Minister of States for Petroleum Resources, the necessary sanctions must be deployed.

    He insisted that Mr. President must demonstrate that he meant business when he promised Nigerians to reform the oil sector.

    He said: “I must say that it is unfortunate that the Nigeria public is being unenviably treated to unpleasant developments in the oil sector. If you ask me, this is coming at a wrong time in our history. Just when we are expecting a reform of the sector so that it can deliver the country out of the woods, we are having to deal with this.

    “So much progress has been recorded in the reform of the oil sector in the last two years that Nigeria cannot afford to turn back the hand of the clock. I know Nigerians are yet to hear from the other side. It will be fair that those who leaked the memo by the Minister of State for Petroleum Resources to President Muhammadu Buhari also live up to their sophistry in access to secret information by obliging Nigerians the response by the Group Managing Director of NNPC. President Muhammadu Buhari must step in and do the needful.”

    The NLC said the issues raised in the communication between the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, and President Muhammadu Buhari should be properly investigated.

    The President of the congress, Comrade Ayuba Wabba, in an interview, said the issues raised by the minister must be verified.

    He said: “The issue is under some investigation and I think there should be an opportunity to interrogate the process and at the end of the day, let us know the veracity and facts of the issue. We have made this issue quite clear and loud that part of our challenge is how we are able to imbibe the process of good governance, transparency and accountability.

    “Some of the issues bothers on this critical idea of ensuring that there is good governance in place. Our hope is that this issue will be thoroughly investigated and concluded. At the end of the day. Let us hear what the issues are as well as the fact of the matter. Once we get the facts, we will then be able to make conclusion.

    “I am aware that the process of investigation is on and I am sure that the Presidency will react appropriately since there is a communication on an issue that bothers on good governance.

    “The normal thing to be done is for the issue to be addressed through the normal process. Once this type of information is thrown to the public, the normal thing is to have a process through which these issues can be looked into.

    “I am aware that the Senate are already investigating the issue and so, the process of that investigation must be concluded so that we can have the fact and be able to make meaningful contributions. Whether the Presidency or the National Assembly, they can investigate because they have the power to do so.”

    ANEEJ yesterday called on the National Assembly and President Buhari to conclude the passage and assent of the Petroleum Industry Governance Bill.

    A conclusion of the enactment, according to the civil society organisation, will forestall the reoccurrence of the issues in the oil and gas sector that Kachikwu, raised against the Group Managing Director of the NNPC, Dr. Maikanti Baru.

    The petition was on arbitrary award of $25 billion contract, insubordination, among other infractions of the NNPC boss.

    ANEEJ Executive Director Rev. David Ugolor, in a statement in Abuja, applauded the Senate for launching a probe into Kachikwu’s allegations.

    Ugolor said: “Since the Senate has waded into the matter, we suggest that Mr. President as well must invite the Nigerian Extractive Industry Transparency Initiative, NEITI, to carry out a comprehensive and forensic audit of the allegations.

    “Among statutory functions of the NEITI include the regulation of matters related to due process in the award of contracts in the extractive sector of the Nigerian sector.

    “We believe that the inconsistencies being thrown up by the startling revelations from the Minister of State for Petroleum Resources include some of the issues which the Petroleum Industry Governance Bill seeks to address and redress.

    “The present administration since inception has defined itself first through its corruption stance, and more by the reforms it has introduced in the oil sector. It scrapped the opaque oil swap which made it possible for individuals within government to line their pockets with millions of dollars and has replaced it with the Direct Sale, Direct Purchase scheme.

    “That lofty plan of Direct Sale, Direct Purchase stands in jeopardy if all the contracts that have been awarded and the companies they have been awarded are not subject to thorough vetting and investigations by both the Senate and the NEITI.”

    For SERAP, Buhari must use his “good offices and leadership position to urgently refer the allegations of corruption and abuse of office against Mr Maikanti Baru, Group Managing Director Nigerian National Petroleum Corporation (NNPC) to the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) for investigation, and if there is relevant and sufficient admissible evidence, for him to face prosecution”.

    The organisation urged Buhari to “suspend Mr Baru pending the referral to the EFCC and ICPC, and the outcome of any investigation by the anti-corruption agencies in order not to create the impression that your government is treating Mr Baru as a sacred cow. We urge you not to allow the allegations against Mr Baru to go the way of past inconclusive investigations of allegations of massive corruption within the NNPC”.

    In an October 2017 a letter signed by SERAP executive director Adetokunbo Mumuni, the organisation said: “The allegations by Dr Kachikwu constitute grave breaches of the Corrupt Practices and Other Related Act of 2000; and the UN Convention against Corruption (UNAC) which Nigeria recently ratified. In particular, the UN Convention against Corruption imposes clear obligations on Nigeria to investigate allegations of corruption such as the present one; prosecute suspected perpetrators and ensure return and repatriation of proceeds of corruption.

    “SERAP is concerned that years of systemic corruption within the NNPC and looting of Nigeria’s natural resources have had uneven consequences against the vulnerable groups of the society, including the poor, women and children, perpetrating and institutionalizing discrimination, and jeopardizing the needs and well-being of future generations. If left unaddressed, the allegations by Dr Kachikwu have the potential of undermining your government’s expressed commitment to returning Nigeria to the path of transparency and accountability.

    “SERAP believes that Mr Baru’s case presents your Administration with yet another rare opportunity to reassure a lot of Nigerians who may be worried about the direction of travel of your anti-corruption agenda. Rather than keeping silent on the matter, we advise you to use this case to show to Nigerians that no form of corruption will be tolerated in the NNPC under your watch.

    “SERAP also believes the recommended approach would help to address the growing public suspicion and pessimism about your government’s ability to fight high-level official corruption to a standstill, and to avoid any collateral consequences. It is absolutely important that the public should have complete confidence and trust in your Administration’s oft-repeated commitment to fight corruption and the impunity of perpetrators.

    “SERAP notes the recent allegations of corruption against Mr Baru by Dr Emmanuel Ibe Kachikwu, Minister of State of Petroleum and Chairman NNPC Board. In the letter to you Dr Kachikwu alleged among others appointments and postings in NNPC without due process; award of contracts above $20m without following the legal and procedural requirements for such contracts including the Crude Term contracts- value at over $10bn; the DSDP contracts- value over $5bn; the AKK pipeline contract- value approximately $3bn; various financing allocation funding contracts with the NOCs – value over $3bn; and various NPDC production service contracts – value at over $3bn—$4bn.”