Tuesday, December 16, 2025
27.9 C
Lagos

NNPC Declares State of Emergency on Crude Oil Production

GCEO, NNPC Limited, Mallam Mele Kyari (standing 7th from left) in a group photograph with participants at the on-going Nigeria Oil & Gas (NOG) 2024 Energy Week Conference & Exhibition in Abuja.

In a move towards increasing Nigeria’s crude oil production and growing its reserves, NNPC Limited has declared a state of emergency on production in Nigeria’s oil and gas industry.

Group Chief Executive Officer of NNPC Limited, Mr. Mele Kyari, disclosed this in a keynote address at the opening ceremony of the 23rd edition of the Nigeria Oil & Gas Conference and Exhibition (NOG Energy Week) in Abuja.

“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,” the GCEO 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.

He said the “war” will help NNPC 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 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 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.

The opening ceremony of the NOG Energy Week also saw goodwill messages and keynotes presented by the Secretary General of the Organisation of the Petroleum Exporting Countries (OPEC), Haitham Al Ghais; Secretary General of the Gas Exporting Countries Forum (GECF), Engr. Mohamed Hamel; Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri; Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo; Special Adviser to the President on Energy, Ms. Olu Verheijen as well as the Chairman, Independent Petroleum Producers Group (IPPG), Mr. Abdulrazaq Isa.

NNPC is the Principal Sponsor of 2024 NOG Energy Week Conference & Exhibition which has as its theme “showcasing opportunities, driving investment and meeting energy demand.”

spot_img
spot_img
spot_img

Hot this week

BudgIT Seeks Transparency, Accountability as FG Defers 70% of 2025 Capital Projects to 2026

BudgIT, a leading civic-tech organisation promoting transparency and accountability...

Leadway Launches First Ever Lifestyle Fair to Empower, Spotlight Young Entrepreneurs

Leadway, one of Nigeria’s top non-banking financial services and...

AIICO Unveils New Identity, Reimagining the Future of Protection

Left - right: Mrs. Bisola Elias (CFO, AIICO Insurance),...

Leadway Launches First Ever Lifestyle Fair to Empower, Spotlight Young Entrepreneurs

Leadway, one of Nigeria’s top non-banking financial services and...

Topics

Allianz Africa: 10 MBA Scholarships to Drive Sustainable Development

Coenraad Vrolijk Regional CEO of Allianz Africa Allianz Africa's commitment to...

Allianz Safety & Shipping Review 2O16

· Piracy - Progress continues in Africa with incidents...

Remittance to Africa Hits $35.2bn in 2015, 3.4% Rise

In 2015, money transfers by African migrants to their...

A Tale of Three Regimes

Since 2004 to date, the banking sector and Central Bank of Nigeria (CBN) have welcomed three different Governors of three different governing styles. In essence, Chukwuma Soludo, Lamido Sanusi and Godwin Emefiele represent three dimensional regimes in one critical sector-Banking.For those that lived through the Central Bank of Nigeria (CBN) regimes of Professor Chukwuma Soludo and Mallam Lamido Sanusi, it was always a difficult act to objectively locate the successes and failures of both administrations in terms of curing the banking sector of its endless Ebola diseases and building strong bricks for sustainable future growth.

Fitch Ratings: LG – Improved Financials in Midst of Present Risks

­Fitch Ratings says LG Electronics still faces an unfavourable...

‘New Mortgage Policy Will Catalyze Pension Industry, Boost Economy’- PENOP

The Pension Operators would like to commend the National...

Linkage Assurance Reports N2.89 PAT, Declares Dividend

It was commendation all through for the Board and...
spot_img

Related Articles

Popular Categories

spot_imgspot_img