A subsidiary of the Nigeria National Petroleum Company Limited (NNPC Ltd), NNPC Energy Services Limited (EnServ) has made another move to boost Upstream operations, as it signed a technical partnership agreement with Schlumberger (SLB), a renowned global technology company.
The agreement, which is part of strategic reforms aimed at unlocking opportunities in the nation’s oil and gas industry, will bolster upstream operations.
A statement by the spokesperson of the NNPC Ltd, Olufemi Soneye, said that the agreement was signed at the NNPC Ltd’s Corporate Headquarters in Abuja yesterday, May 23, with senior management teams from both companies in attendance.
He quoted the Group Chief Executive Officer of NNPC Ltd, Mele Kyari as describing the ongoing reforms within the industry as a trigger for potential release of investments in the short term.
“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.”
Kyari highlighted the numerous benefits of the partnership, saying that it would lead to increased activity and more drilling campaigns that will add value to the two organisations.
He said that NNPC is working on a rig share platform with a definite plan around well drilling activities and associated operations in the coming years, which, he said, would increase crude oil production and support the ongoing plan to deepen gas utilization within the country.
Kyari expressed confidence in the long-standing relationship between NNPC Ltd and Schlumberger (SLB), adding that the NNPC would leverage on the assets within its control to accelerate the values 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.“
Earlier, the Chief Executive Officer of Schlumberger (SLB), Olivier Le Peuch said that the agreement would 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 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,” Le Peuch said.
He noted that as a company that has been on the shores of Nigeria for 70 years, Schlumberger (SLB) would continue to be committed to investing in local talents and building capacity through technology and performance.
“We are pleased to be at the center 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.”
