NNPCL, Schlumberger sign agreement to boost upstream operations

The NNPC Energy Services Limited (EnServ) and Schlumberger (SLB), a global technology company, have signed a technical partnership agreement towards bolstering upstream operations in Nigeria’s oil and gas industry.

The agreement was signed at the NNPCL’s Corporate Headquarters in Abuja on Thursday, May 23, 2024.

Speaking shortly after the signing, Group Chief Executive Officer of NNPCL Mele Kyari described the ongoing reforms within the industry as a trigger for the potential release of investments in the short term.

Kyari 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 Mr President has put in place; and ultimately, we are already seeing substantial energy going into unlocking opportunities of today (Thursday).”

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

Kyari revealed that NNPCL 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 utilisation within the country.

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

In his remarks, the Chief Executive Officer of Schlumberger, Olivier Le Peuch, said the agreement was poised to accelerate the achievement of Nigeria’s exploration and production targets, which, he said, will foster Nigeria’s economic growth and prosperity.

Peuch said: “This agreement is geared towards unlocking the capacities of EnServ for Nigeria, which potentially will help NNPCL 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 Star