Energy: NNPCL, Schlumberger ink MoU to improve upstream petroleum operations

*Malam Mele Kyari, Group CEO of the NNPC Limited, asserts the technical partnership agreement will lead to increased activity and more drilling campaigns that will add value to the partner organisations

Isola Moses | ConsumerConnect

The Nigerian National Petroleum Company (NNPC), Energy Services Limited (EnServ) and Schlumberger (SLB), a renowned global technology company, have signed a technical partnership agreement to boost upstream operations in the country.

The parties signed the  agreement Thursday, May 23, 2024, at the NNPC Limited Corporate Headquarters, in Abuja, FCT, with senior Management teams of both companies in attendance.

Malam Mele Kyari, Group Chief Executive Officer (GCEO) of NNPC Limited, while speaking after the MoU signing, described the ongoing reforms within the industry as a trigger for downstream petroleum sector as a potential release of investments in the short term.

Olufemi Soneye, Chief Corporate Communications Officer at NNPCL, in a statement noted Kyari also described the agreement as part of strategic reforms aimed at unlocking opportunities in the country’s oil and gas industry,

The GCEO said: “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.”

Benefits of technical partnership agreement, by Kyari

Among several other benefits of the agreement, Kyari stated that it would lead to increased activity and more drilling campaigns that would add value to the two organisations.

He also disclosed the NNPCL is working on a rig share platform with a definite plan around well drilling activities and associated operations in the coming years.

According to him, the effort would boost crude oil production and support the ongoing plan to deepen gas utilisation in Nigeria.

Kyari, who expressed confidence in the long-standing relationship between NNPC Limited and Schlumberger, said the NNPC would leverage on the assets within its control to accelerate the values that will come from the partnership.

The NNPCL Chief Executive assured: “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.”

Commenting on the development earlier, Mr Olivier Le Peuch, CEO of Schlumberger, said the agreement would accelerate the achievement of Nigeria’s exploration and production targets, which would foster Nigeria’s economic growth and prosperity.

Le Peuch stated: “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.”

The CEO of Schlumberger further said as a company that has been on the shores of Nigeria for 70 years, the energy firm 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 Limited,” Le Peuch noted.