Guardian Nigeria
The Group Chief Executive Officer of Nigerian National Petroleum Company (NNPC Ltd), Mele Kyari, has described the ongoing reforms within the petroleum industry as a trigger for potential release of investments in the short term.
Kyari stated this during the signing of a technical partnership agreement between the NNPC Energy Services Limited (EnServ) and Schlumberger (SLB), in Abuja.
The agreement was signed at the NNPC’s Corporate Headquarters in Abuja on Thursday, with senior management teams from both companies in attendance. “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 increase 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.
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.
“We are counting on Schlumberger (SLB) as our partners of 70 years. We are in business; we see the opportunities and strategic need to work with you and ultimately, we will create value for our country, “ the GCEO noted.
Earlier, in his remarks, the Chief Executive Officer of Schlumberger, Olivier Le Peuch, said the agreement was poised to accelerate the achievement of Nigeria’s exploration and production targets, which will foster Nigeria’s economic growth and prosperity.
“We are here to celebrate the strategic partnership we signed with EnServ as a technical partner. This agreement is geared towards unlocking the capacities of EnServ for Nigeria, which potentially will help NNPC Ltd to achieve its exploration and production targets.
“We look forward to using this technical partnership as a springboard to accelerate the vision that the industry needs,” Le Peuch added. He noted that as a company that has been on the shores of Nigeria for 70 years, Schlumberger (SLB) remains committed to investing in local talents and building capacity through technology and performance.
