The Nigerian National Petroleum Company Limited (NNPCL) has announced a state of emergency to boost oil production and reserves.
Jerrymusa.com reports that CEO Mele Kyari made the declaration at the Nigeria Oil and Gas Conference and Exhibition Week in Abuja, stating that the company is taking bold action to address production challenges.
“We have decided to stop the debate. We have declared war on the challenges affecting our crude oil production. War means war,” Kyari declared. “We have the right tools.
Nigeria’s Oil Consumption Statistics
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.”
According to Kyari, a detailed analysis of assets revealed that Nigeria could conveniently produce two million barrels of crude oil per day without deploying new rigs.
“Our analysis shows that we can easily produce two million barrels per day without new rigs, but timely action is needed from all players,” he emphasized.
The “emergency” declaration aims to expedite the clearance of bottlenecks, including delays in procurement processes, to achieve efficient production.
“The war will help NNPCL and its partners to speedily clear all identified obstacles to effective and efficient production,” Kyari added.
NNPCL and its partners are committed to working together to overcome these challenges and increase oil production.