Nigerian National Petroleum Company (NNPC) Limited has declared a State of Emergency on Oil and Gas Production in Nigeria.
Group Chief Executive Officer of the Company, Mallam Mele Kyari, disclosed this in a keynote address at the opening ceremony of the 23rd Edition of the Nigeria Oil & Gas Conference and Exhibition (NOG Energy Week) in Abuja.
According to him, a detailed analysis of assets revealed that Nigeria can conveniently produce two million barrels of crude oil per day without deploying new rigs, adding that the major impediment to achieving that remains the inability of players to act on time.
He said the war would help NNPC and its partners to speedily clear all identified obstacles to effective and efficient production such as delays in procurement processes, which have become a challenge in the industry.
On medium to long-term measures aimed at boosting and sustaining production, Mallam Kyari said NNPC would replace all the old crude oil pipelines built over four decades ago and also introduce a rig-sharing programme with its partners to ensure that production rigs stay in the country for between four and five years which is the standard practice in most climes.
He called on all players in the industry to collaborate towards reducing the cost of production and boosting production to target levels.
