The Facts on NNPC/MPN Multi-Year Projectsin Akwa Ibom State

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Background

In July 2013, Mobil Producing Nigeria Unlimited

(MPN), operator of the Nigerian National Petroleum

Corporation (NNPC)/MPN Joint Venture,

announced plans to make multi-year social

investments with a total value of N26 Billion in Akwa

Ibom State. These investments are in addition to the

joint venture's regular annual community

development projects.

The social investment package funds both short-

and long-term projects for MPN's neighbouring

communities, as well as other parts of Akwa Ibom

State. Short-term projects include contributions for

the Eket-Ibeno road reconstruction and Special

Community Projects II in the four communities

surrounding MPN's operations in Qua Iboe Terminal

(QIT), as well as four coastal communities.

Long-term projects include contributions to

proposed projects such as Ibeno Beach

enhancement, upgrade of University of Uyo

Engineering faculty and design and construction of

Trauma Centre University of Uyo Teaching Hospital.

Working together, we can deliver more value to our

communities!

What Special Projects II is not:

1. It is NOT a palliative or compensation for any oil spill

What Special Projects II is:

1. It is a social investment across our neighbouring and coastal

communities

2. It is an act of goodwill done in good faith

3. Communities undertook to sustain peaceful

atmosphere/conduct

Project Governance and Payments:

1. Managed by a Steering Committee comprising Akwa Ibom

State Government, communities and the JV

2. Stewarded by indigenous Project Managers

3. Projects and contractors are nominated by benefitting

communities

4. JV pays project managers on agreed performance milestones

Update on Activities and Payment Status:

The Special Projects II, since inception in 2014, has provided the

following:

* PMC - Project Management Cost* DPC - Direct Project Cost * S/C - Signage & Commissioning

Community Total Project Cost (N) Payment Status

Project Status

Ibeno 1,471,500,000 (DPC, PMF & S/C)

(DPC, PMF & S/C)

(DPC, PMF & S/C)

(DPC, PMF & S/C)

(DPC, PMF & S/C)

(DPC, PMF & S/C)

(DPC, PMF & S/C)

(DPC, PMF & S/C)

90% 70%

Eket 1,275,300,000 25% 26%

Esit Eket 1,177,200,000 40% 46%

Onna 981,000,000 90% 80%

Eastern Obolo 272,500,000 25% 30%

Mbo 272,500,000 25% 30%

Mkpat Enin 272,500,000

25% 30%

Ikot Abasi 272,500,000

25% 30%

Sub Total 5,995,000,000

Close Out/Community Awards

5,000,000

Grand Total 6,000,000,000

Projects Amount (N) Payment Status Project Status

Eket-Ibeno Road Counterpart Fund 8,000,000,000 100% since 2014 60%