Newscenter Media News The Nigerian National Petroleum Company Limited (NNPC) Limited has declared a state of emergency on crude oil production in the country.
The company also called on all players in the industry to collaborate towards reducing the cost of oil production and boosting production to target levels.
The NNPC Group Chief Executive Officer, Mele Kyari, disclosed this at the 23rd edition of the Nigeria Oil & Gas (NOG) Conference and Exhibition on Tuesday in Abuja.
He said: “We have decided to stop the debate. We cannot afford to negotiate further. We have declared war on the challenges affecting our crude oil production.
“Our biggest interest is to produce more oil and gas despite oil theft and other challenges.
“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 said a detailed analysis of assets revealed that Nigeria could conveniently produce two million barrels of crude oil daily without deploying new rigs.
He, however, decried the inability of players to act in a timely manner as major impediment.
He said obstacles to effective and efficient production such as delays in procurement processes and old pipeline network were affecting the industry.
He said NNPC would replace all the old crude oil pipelines built over four decades ago and introduce a rig-sharing programme with its partners to ensure that production rigs stayed in the country.
On Compressed Natural Gas (CNG), Kyari said the company had keyed into the Presidential CNG Initiative drive.
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