HighlightOil & Gas

NNPC Ltd. , Schlumberger (SLB) Sign Agreement to Boost Upstream Operations

"The agreement was signed at NNPC Ltd.'s corporate headquarters in Abuja on Thursday, with senior management teams from both companies in attendance"

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As part of strategic reforms aimed at unlocking opportunities in the nation’s oil and gas industry, NNPC Energy Services Limited (EnServ) and Schlumberger (SLB), a renowned global technology company, have signed a technical partnership agreement aimed at bolstering upstream operations.

Senior management teams from both companies signed the agreement on Thursday at NNPC Ltd.’s corporate headquarters in Abuja.

Mr. Mele Kyari, the Group Chief Executive Officer of NNPC Ltd., described the ongoing reforms within the industry as a trigger for the potential release of investments in the short term, according to a statement by Mr. Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd.

“Quite a number of reforms are unfolding, and at the back of it is a potential release of investment that we are seeing in the very short term.

“Our physical environment is excellent today; contracting processes have been reviewed by virtue of the clear reforms Mr. President has put in place; and ultimately, we are already seeing substantial energy going into unlocking opportunities today,” Kyari stated.

Kyari highlighted the numerous benefits of the partnership, saying it would lead to increased activity and more drilling campaigns that would add value to the two organizations.

He revealed that NNPC was working on a rig share platform with a definite plan around well drilling activities and associated operations in the coming years, which, he further explained, would increase crude oil production and support the ongoing plan to deepen gas utilization within the country.

Kyari, who expressed confidence in the long-standing relationship between NNPC Ltd. and Schlumberger (SLB), said the NNPC would leverage the assets within its control to accelerate the value that will come from this partnership.

“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,” the GCEO noted.

Earlier in his remarks, the Chief Executive Officer of Schlumberger (SLB), Mr. Olivier Le Peuch, said the agreement was poised to accelerate the achievement of Nigeria’s exploration and production targets, which will 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. 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 added.

He noted that Schlumberger (SLB), a company that has been on the shores of Nigeria for 70 years, remains committed to investing in local talent 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.

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