The Nigerian National Petroleum Company Limited (NNPCL) has declared state of emergency on oil production.
The Chief Executive Officer of NNPCL, Mr Mele Kyari made this declaration during the ongoing 2024 Nigeria Oil and Gas (NOG) Energy Week in Abuja on Tuesday.
According to Kyari, the move is directed towards increasing Nigeria’s crude oil production and growing its reserves.
“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 emphasized.
He revealed that a detailed analysis of the country’s assets indicated Nigeria could feasibly produce two million barrels of crude oil per day without the need for new rigs.
However, the primary obstacle to reaching this goal has been the industry’s delayed response to necessary actions.
Kyari further explained that this “war” will enable NNPCL and its partners to swiftly address and overcome all identified obstacles to effective and efficient production, such as delays in procurement processes that have long plagued the industry.