Search
Close this search box.
NNPC Ltd Declares State of Emergency on Crude Oil Production 
NNPC Ltd Declares State of Emergency on Crude Oil Production 
NNPC Ltd Declares State of Emergency on Crude Oil Production 
– By Rosemary Aguwa

Follow us on:

NNPC Ltd Declares State of Emergency on Crude Oil Production

The Nigerian National Petroleum Company (NNPC) Limited has   declared a state of emergency on production in Nigeria’s oil and gas industry.
This is aimed at  increasing Nigeria’s crude oil production and growing its reserves.
The Group Chief Executive Officer of NNPC, Mele Kyari, disclosed this on Tuesday in a keynote address at the opening ceremony of the 23rd edition of the NOG Energy Week holding in Abuja with the theme “Showcasing opportunities, driving investment and meeting energy demand.”
“We have decided to stop the debate. We have declared war on the challenges affecting our crude oil production. War means war. We have the right tools. We know what to fight. We know what we have to do at the level of assets. We have engaged our partners. And we will work together to improve the situation,” Kyari declared.
According to him, a detailed analysis of assets revealed that Nigeria can conveniently produce two million barrels of crude oil per day without deploying new rigs, but the major impediment to achieving that remains the inability of players to act in a timely manner.
Mele Kyari
Mele Kyari
He said the “war” will help NNPC Ltd. and its partners to speedily clear all identified obstacles to effective and efficient production such as delays in procurement processes, which have become a challenge in the industry.
On medium to long-term measures aimed at boosting and sustaining production, Kyari said NNPC Ltd. would replace all the old crude oil pipelines built over four decades ago and also introduce a rig sharing programme with its partners to ensure that production rigs stay in the country for between four and five years which is the standard practice in most climes.
He called on all players in the industry to collaborate towards reducing the cost of production and boosting production to target levels.
He expressed the Company’s commitment to investing in critical midstream gas infrastructure such as the Obiafu-Obrikom-Oben (OB3) and the Ajaokuta-Kaduna-Kano gas pipelines to boost domestic gas production and supply for power generation, industrial development and economic prosperity of the country.
On Compressed Natural Gas (CNG), Kyari observed that NNPC Ltd. has since keyed into the Presidential CNG drive, adding that in conjunction with partners such as NIPCO Gas, NNPC Ltd. has built a number of CNG stations, 12 of which will be commissioned on Thursday in Lagos and Abuja.
Your subscription could not be saved. Please try again.
Your subscription has been successful.

Newsletter

Get to read our latest stories right in your email

Leave a Reply

Show some Love. Share this post

Copyright 2022. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from Majorwaves Energy Report

Show Buttons
Hide Buttons