NNPC Declares State of Emergency On Crude Oil Production

In a bold move to boost Nigeria’s crude oil production and grow its reserves, NNPC Ltd has declared a state of emergency on production in the oil and gas industry. This declaration was made by the Group Chief Executive Officer, Mr. Mele Kyari, at the opening of the 23rd Nigeria Oil & Gas Conference and Exhibition (NOG Energy Week) in Abuja.

According to Kyari, a detailed analysis of assets reveals that Nigeria can easily produce two million barrels of crude oil per day without deploying new rigs. However, the major obstacle to achieving this is the inability of players to act in a timely manner. To tackle this, NNPC Ltd has declared “war” on the challenges affecting crude oil production, vowing to work with partners to clear obstacles and improve the situation.

To achieve this, NNPC Ltd plans to replace old crude oil pipelines built over four decades ago and introduce a rig sharing program with partners to ensure production rigs stay in the country for the standard four to five years. Kyari called on all industry players to collaborate on reducing production costs and boosting production to target levels.

Additionally, NNPC Ltd is committed to investing in critical midstream gas infrastructure, including the OB3 and Ajaokuta-Kaduna-Kano gas pipelines, to boost domestic gas production and supply for power generation, industrial development, and economic prosperity.

The declaration of emergency by the NNPC chief has been welcomed by industry stakeholders, who see it as a necessary step to address the challenges facing the sector. The move is expected to lead to increased collaboration and investment in the industry, ultimately boosting Nigeria’s crude oil production and reserves.
Send Us A Press Statement Advertise With Us Contact

 And For More Nigerian News Visit GWG.NG