NNPC Ltd has declared a state of emergency on crude oil production in Nigeria, aiming to increase production and grow reserves. Group CEO, Mele Kyari, made the announcement at the Nigeria Oil & Gas Conference and Exhibition (NOG Energy Week).
Kyari emphasized the need for collaboration to reduce production costs and boost output. He revealed that Nigeria can produce 2 million barrels per day without new rigs, but delays in procurement processes hinder progress.
To tackle obstacles, NNPC Ltd will clear delays, replace old pipelines, and introduce a rig sharing program. The company is committed to investing in midstream gas infrastructure and boosting domestic gas production.
Kyari called for industry players to work together to reduce costs and increase production. The Presidential CNG drive has seen NNPC Ltd build CNG stations, with 12 set for commissioning in Lagos and Abuja.
The event featured goodwill messages from OPEC, GECF, and government officials, with NNPC Ltd as the principal sponsor. The theme was “Showcasing Opportunities, Driving Investment, and Meeting Energy Demand.”
LV