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Olugbemi. Adeyinka Ogunleye
10 months ago
Overview
The Nigerian National Petroleum Company Limited says it has declared a state of emergency on oil production.
It said this was a move towards increasing Nigeria’s crude oil production and growing its reserves. According to the Group Chief Executive Officer of NNPCL, Mele Kyari, a detailed analysis of assets revealed that Nigeria could conveniently produce two million barrels of crude oil per day without deploying new rigs.
Still, the major impediment to achieving this is the inability of players to act in a timely manner.
He added that the “war” will help NNPCL and its partners to speedily clear all identified obstacles to effective and efficient production, such as delays in procurement processes, which have become a challenge in the industry.
Credit: Punch
