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NNPC Declares State of Emergency on Oil Production

Published by admin on July 3rd, 2024.

NNPC Declares State of Emergency on Oil Production

The Nigerian National Petroleum Company Limited (NNPCL) has announced a state of emergency in its oil production sector. This initiative aims to boost Nigeria’s crude oil output and expand its reserves.

Mele Kyari, the Group Chief Executive Officer of NNPCL, made this announcement during his keynote address at the 23rd Nigeria Oil and Gas Conference and Exhibition Week in Abuja on Tuesday.

“We have decided to end the debate and tackle the challenges affecting our crude oil production head-on,” Kyari stated. “We are fully equipped and know exactly what needs to be done at the asset level. Our partners are on board, and together, we will work to improve the situation.”

Kyari noted that a thorough analysis of current assets shows that Nigeria can produce two million barrels of crude oil per day without the need for new rigs. However, the primary barrier to achieving this target has been the industry’s slow response to necessary actions.

He emphasized that this “war” on production challenges would enable NNPCL and its partners to swiftly address obstacles such as procurement delays, which have hindered efficient and effective production in the industry.