The Nigerian National Petroleum Company Limited (NNPCL) has declared a state of emergency on oil production in a move aimed at increasing Nigeria’s crude oil output and expanding its reserves.
Mele Kyari, the Group Chief Executive Officer of NNPCL, announced this on Tuesday during his keynote address at the opening of the 23rd edition of the Nigeria Oil and Gas Conference and Exhibition Week in Abuja.
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“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 stated.
Kyari revealed that a detailed analysis of assets showed that Nigeria could conveniently produce two million barrels of crude oil per day without deploying new rigs. However, the major impediment to achieving this target is the industry’s slow response to necessary actions.
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He emphasized that the “war” would enable NNPCL and its partners to swiftly address all identified obstacles to effective and efficient production, such as delays in procurement processes, which have been a significant challenge.
More details to follow…
