The Nigerian National Petroleum Company (NNPC) Ltd has said a detailed analysis of assets has revealed that Nigeria could conveniently produce two million barrels of crude oil per day without deploying new rigs.
The company said in realisation of this, it has declared a state of emergency on oil production towards increasing Nigeria’s crude oil production and growing its reserves.
Group Chief Executive Officer of NNPCL, Mele Kyari, disclosed this in a keynote address at the opening of the 23rd edition of the Nigeria Oil and Gas Conference and Exhibition 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 said.
According to him, the major impediment to achieving the country’s potential in crude production was the inability of players to act in a timely manner.
Kyari said the war will help NNPCL and its partners speedily clear all identified obstacles to effective and efficient production, such as delays in procurement processes, which have become a challenge in the industry.
