Nigeria Secures Deal With American Oil Field Company After Discovering New Oil Well
- Schlumberger, an American oilfield company, and NNPC Limited have inked a contract to improve upstream activities
- According to NNPC GCEO, a lot of reforms are happening because of the potential investment release that may come soon
- The development comes after the successful commencement of oil production at Oil Mining Lease (OML) 13 in Akwa Ibom state
Legit.ng journalist Zainab Iwayemi has over three years of experience covering the Economy, Technology, and Capital Market.
The Nigerian National Petroleum Corporation (NNPC) Limited has signed an agreement with Schlumberger, an American oilfield business, to expand upstream activities in Nigeria's oil and gas industry.
Source: UGC
The state-owned oil business announced this on Thursday, May 23, in Abuja in a statement signed by Olufemi Soneye, the NNPC's top corporate communications officer.
Mele Kyari, the Group CEO of NNPC Ltd, explained that the industry's current reforms will likely lead to the probable short-term release of investments.
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Advantages of the partnership
Kyari emphasised the partnership has many advantages, stating that it would result in additional drilling campaigns and more activity that would benefit both organisations.
He disclosed that NNPC was developing a rig-sharing platform with a clear plan for healthy drilling and related activities in the upcoming years.
He added that this would boost crude oil production and help the ongoing initiative to expand the country's use of gas.
Speaking about the long-standing connection between NNPC Ltd. and Schlumberger (SLB), Kyari stated that NNPC will use the resources under its control to expedite the benefits of this relationship.
Kyari said:
“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.”
Schlumberger CEO Olivier Le Peuch stated that the deal will hasten Nigeria's exploration and production goals, promoting economic expansion and well-being.
Le Peuch said:
“We are here to celebrate the strategic partnership that 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. 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.”
He stated that Schlumberger (SLB), a business that has been operating in Nigeria for 70 years, is still dedicated to developing local talent and enhancing performance and technology.
He added:
“We are pleased to be at the centre of this transition and are in a position where we can bring our technical capability, technology, and capacity to the country to support the operations of NNPC Ltd,”
Nigeria discovers another oil well
Legit.ng reported that the Nigerian National Petroleum Company Exploration and Production Limited (NNPC E&P Ltd), a subsidiary of NNPC and Natural Limited Oilfield Services Limited (NOSL), has announced the successful commencement of oil production at Oil Mining Lease (OML) 13 in Akwa Ibom state.
The NNPC announced this in a statement signed by its chief corporate communications officer, Olufemi Soneye, on Sunday, May 12, 2024.
It said the production, which began on May 6, 2024, with about 6,000 barrels of oil, is expected to be ramped up to 40,000 barrels daily by May 27, 2024.
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Source: Legit.ng
