NNPC LTD Declares Of Emergency On Crude Oil Production In Nigeria, Calls For Collaboration To Reduce Production Cost.

*NNPC Ltd Declares State of Emergency on Crude Oil Production, Calls for Collaboration to Reduce Production Cost*

In a bid to boost Nigeria’s crude oil production and grow its reserves, The Nigerian National Petroleum Company Limited, NNPCL has declared a state of emergency on production in the oil and gas industry.

Group Chief Executive Officer, Mele Kyari, made the announcement on at the ongoing 23rd Nigeria Oil & Gas Conference and Exhibition (NOG Energy Week) in Abuja, the Nigerian Federal capital territory.

Kyari stated that a detailed analysis of assets shows Nigeria could potentially produce two million barrels of crude oil per day without deploying new rigs, but delays in procurement processes and other obstacles have continued to hinder achievement he declared.

“To address this, NNPC Ltd will replace old crude oil pipelines, introduce a rig sharing program, and invest in critical midstream gas infrastructure”.

He called for industry collaboration to reduce production costs and boost production, expressing commitment to the Presidential CNG drive and announcing the commissioning of 12 CNG stations in Lagos and Abuja.

The theme of the Conference is “Showcasing Opportunities, Driving Investment, and Meeting Energy Demand.”