Highlight

NNPCL advocates “War Room” to tackle challenges faced by independent producers

524

The Nigerian National Petroleum Company Limited (NNPCL) has called for a stronger partnership among upstream operators, especially independent producers, to find solutions to the challenges in the effective development of divested assets in the nation’s oil and gas industry.

Specifically, the company advocated a ‘war room’ where issues are raised and concrete plans are made to resolve them rather than waiting for stakeholders individually to take them on.

The Executive Vice President, Upstream, NNPCL, Mrs. Oritsemeyiwa Eyesan, made the call at a panel session in the ongoing 2024 Nigerian International Energy Summit (NIES 2024) in Abuja.

Speaking on the theme “Innovation, Collaboration, and Resilience: Empowering Independent Producers in the Dynamic Energy Era,” Eyesan recalled that past experiences with divestments and how the assets were operated had left much to be desired, as most of them experienced a drop in production rather than growth.

“In the industry, if you want to measure success, there are some basic indicators that you utilise: production growth, reserve growth, and asset integrity.

“If I were to evaluate prior investment initiatives and scale the actors using these indices, I would be untrue to myself if I said everybody had done well.

“Yes, we acquired the assets, but today we are worse off in terms of production than we were when we did the acquisition,” Eyesan said in a statement emailed to Persecondnews by Mr. Femi Soneye, the Chief Corporate Communications Officer of NNPCL.

She, however, acknowledged that there were some success stories in the operations of the independent producers.

She identified some of the challenges as including insecurity, lack of finance, and lack of technological capacity, stressing that with collaboration among industry players, the challenges could be surmounted.

“Collaboration cannot be overemphasized. Somebody said we should be in a state of emergency, and I totally agree with that. It’s not by sitting here and talking about the challenges.

“I think we should have a ‘war room’ where we raise the issues and set out concrete plans to resolve them rather than wait for stakeholders individually to take them on. We need collaboration, collaboration, and collaboration,” the Executive Vice President, Upstream, also said.

The panel session had key players in the sector, such as the Chief Executive Officer of Aradel Holdings, Mr. Adegbite Falade; the Managing Director of SNEPCo, Mrs. Elohor Aiboni; the Managing Director of First E & P Development Company, Mr. Demola Adeyemi-Bero; and the Chief Executive Officer of TotalEnergies, Mr. Matthieu Bouyer.

Others were the Chief Executive Officer, ExxonMobil Nigeria, Mr. Shane Harris; the Chief Operating Officer, Oando Energy Resources, Dr. Ainojie Alex Irune; and the Director, Joint Venture, Chevron Nigeria, Mr. Cosmas Iwueze.

Leave a comment

Related Articles

Another Commissioner quits in Rivers State

The River State Commissioner of Finance, Mr. Isaac Kamalu, has resigned as...

Ex-Gov. Bello’s impudence: Redeploy Kogi CP, State Forum of Concerned Citizens urges IGP

Following the outrage over the resistance to arrest by ex-Gov. Yahaya Bello...

Pres. Tinubu Approves Consumer Credit Scheme Takeoff

President Bola Tinubu has approved the takeoff of the first phase of...

Renewed Wike/Fubara feud: Rivers Attorney-General Adangor resigns again

For the second time in a few months, an ally of FCT...

Dana Air incident: FAAN reopens MMIA runway

Aftermath of Dana airlines overshooting the runway during its landing sequence at...

EFCC to ex-Gov. Bello: We will set aside arrest warrant if you show up in court

“I will personally apply that the arrest warrant be set aside if...

Just in: Again, Dangote further crashes diesel, aviation fuel to N940, N980

Dangote Petroleum Refinery has announced another reduction in diesel and aviation fuel...

Just in: Reps ex-Deputy Speaker Ihedioha quits PDP

The main opposition party, the People’s Democratic Party (PDP), has lost another...

CBN sells fresh dollars to BDCs at N1,021/$ as naira loses steam

The Central Bank of Nigeria (CBN) has issued another circular to Bureau...

Update: Dana Airlines’ Lagos airport incident: Aircraft grounded

The management of Dana Air has confirmed reports that one of its...

NNPC Ltd., joint venture partner, unlock 12,000bpd production from Awoba Unit Field

The Nigerian National Petroleum Company Limited (NNPC Ltd) and its joint venture...

Bullying scandal in Abuja private school stirs condemnation, management reacts

Nigerians have taken to social media over the viral video of a...

Power outages: FG set to unbundle 11 Discos, each state to get its own firm

The Federal Government says it has begun the restructuring and unbundling of...

Tinubu departs Abuja for Netherlands, attends economic forum in Saudi Arabia

President Bola Ahmed Tinubu will on Tuesday, April 23, depart Abuja for...

Merge NSCDC, FRSC with Police – IG

The Federal Government should merge the Nigeria Security and Civil Defence Corps...

NDLEA urges Lions Club, other service organizations to join war against illicit drugs

The National Drug Law and Enforcement Agency (NDLEA) has urged service and...

FG begins loan disbursement to businesses, manufacturers

“The Federal Government of Nigeria is proud to announce the operational launch...

Horrific! Babcock varsity law professor shot fatally, two others abducted in Ogun

The gunmen, who killed the lecturer, also abducted two others at the...

Ogun begins sale of rice at discounted prices to workers

Ogun State Government has commenced sale of rice to its workforce as...