NNPC Ltd., Schlumberger sign agreement to boost upstream operations

Managing Director, NNPC Energy Services Limited (EnServ), Sophia Mbakwe (5th from right) and Chief Executive Officer, Schlumberger (SLB), Mr. Olivier Le Peuch (4th from left) exchange documents shortly after the signing ceremony of a technical partnership agreement on bolstering upstream operations between the two companies, held at the NNPC Towers in Abuja, on Thursday.
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By Emmanuella Anokam

The Nigerian National Petroleum Company Limited (NNPC Ltd.), Energy Services Limited (EnServ) and Schlumberger (SLB), a renowned global technology company, have signed a technical partnership agreement toward 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, the 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.

Kyari, in a statement issued by Olufemi Soneye, the Chief Corporate Communications Officer, NNPC Ltd. described the agreement as part of strategic reforms aimed at unlocking opportunities in the nation’s oil and gas industry.

“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 the President has put in place; and ultimately, we are already seeing substantial energy going into unlocking opportunities,” Kyari said.

Highlighting the numerous benefits of the partnership, Kyari said it would lead to increased activity and more drilling campaigns that would add value to the two organisations.

He said that NNPC was working on a rig share platform with a definite plan around well drilling activities and associated operations in the coming years.

This, he said would increase crude oil production and support the ongoing plan to deepen gas utilisation within the country.

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Kyari, who expressed confidence in the long-standing relationship between NNPC Ltd. and Schlumberger, 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 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, Mr Olivier Le Peuch, the Chief Executive Officer, Schlumberger, said the agreement would accelerate the achievement of Nigeria’s exploration and production targets, which would foster Nigeria’s economic growth and prosperity.

“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. 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 said.

According to him, as a company that has been on the shores of Nigeria for 70 years, it remains committed to investing in local talents and building capacity through technology and performance.

“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 so as to support the operations of NNPC Ltd,” he said. (NAN)(www.nannews.ng)

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Edited by Ese E. Eniola Williams

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