NNPC, Schlumberger Sign Agreement To Boost Upstream Operations in Nigeria
London, May 24, 2024 , (Oilandgaspress) –NNPC Ltd ,Schlumberger (SLB) Sign Agreement to Boost Upstream Operations …As Kyari Reiterates Company’s Resolve to Create Value for Nigeria. As part of strategic reforms aimed at unlocking opportunities in the nation’s oil and gas industry, the NNPC Energy Services Limited (EnServ) and Schlumberger (SLB), a renowned global technology company, have signed a technical partnership agreement towards bolstering upstream operations.
The agreement was signed at the NNPC Ltd’s Corporate Headquarters in Abuja on Thursday, with senior management teams from both companies in attendance.
Speaking shortly after the signing, Group Chief Executive Officer of NNPC Ltd, Mr. Mele Kyari described the ongoing reforms within the industry as a trigger for potential release of investments in the short term.
“Quite a number of reforms are unfolding, and at the back of it is a potential release of investment that we are seeing in a very short term. Our physical environment is excellent today; contracting processes have been reviewed by virtue of the clear reforms Mr. President has put in place; and ultimately, we are already seeing substantial energy going into unlocking opportunities of today,” Kyari stated.
Highlighting the numerous benefits of the partnership, Kyari said it would lead to increased activity and more drilling campaigns that will add value to the two organisations.
He revealed that NNPC was working on a rig share platform with a definite plan around well drilling activities and associated operations in the coming years, which, he further explained, would increase crude oil production and support the ongoing plan to deepen gas utilization within the country.
Kyari, who expressed confidence in the long-standing relationship between NNPC Ltd and Schlumberger (SLB), said the NNPC would leverage on the assets within its control to accelerate the values that will come from this partnership.
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