Nigeria National Petroleum Corporation Limited (NNPC Ltd) has declared a state of emergency in the nation’s oil and gas industry in a decisive move to boost Nigeria’s crude oil production and expand its reserves.
This announcement was made by Group Chief Executive Officer of NNPC Ltd, Mr. Mele Kyari, during his keynote address at the opening ceremony of the 23rd edition of the Nigeria Oil & Gas Conference and Exhibition (NOG Energy Week) in Abuja on Tuesday.
“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 disclosed that a detailed analysis of assets has revealed that Nigeria can produce two million barrels of crude oil per day without the need for new rigs.
However, the major obstacle remains the industry’s slow response to issues. The declared “war” aims to eliminate these impediments, including delays in procurement processes.
As part of medium to long-term measures, NNPC Ltd plans to replace all crude oil pipelines that were built over four decades ago. Additionally, a rig-sharing program will be introduced with partners to ensure rigs remain in the country for four to five years, aligning with standard global practices.
Kyari urged all industry players to work together to reduce production costs and increase output to meet target levels.
He also emphasised NNPC Ltd’s commitment to investing in critical midstream gas infrastructure, such as the Obiafu-Obrikom-Oben (OB3) and Ajaokuta-Kaduna-Kano gas pipelines.
These investments aim to enhance domestic gas production and supply for power generation, industrial development, and the economic prosperity of the country.
Kyari highlighted that NNPC Ltd. has embraced the Presidential CNG drive, partnering with NIPCO Gas to build several CNG stations, with 12 stations set to be commissioned on Thursday in Lagos and Abuja.
During the opening ceremony of the NOG Energy Week, goodwill messages and keynote addresses were delivered by key figures, including 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; and Chairman of the Independent Petroleum Producers Group (IPPG), Mr. Abdulrazaq Isa.
The 2024 NOG Energy Week Conference & Exhibition, themed “Showcasing Opportunities, Driving Investment, and Meeting Energy Demand,” is proudly sponsored by NNPC Ltd.