The Nigerian National Petroleum Corporation Limited (NNPC. Ltd) has sealed a significant deal with American oilfield company, Schlumberger (SLB), to boost upstream operations in Nigeria’s oil and gas sector.
This is contained in a statement by the spokesperson of NNPC, Olufemi Soneye, on Thursday in Abuja.
According to the statement, both oil majors signed a technical partnership agreement to foster investment in the upstream sector of the country.
Soneye noted that the agreement was finalized at the Corporate Headquarters of NNPC Ltd. in Abuja on Thursday, and it was attended by senior management teams from both companies.
Soneye relayed a statement from Mr. Mele Kyari, Group Chief Executive Officer of NNPC Ltd., indicating that the agreement would enhance operational activities and expand drilling campaigns, thereby adding value to both organizations.
“Quite a number of reforms are unfolding, and at the back of it is a potential release of investments 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 of today.
“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,” Kyari said.
On its part, the Chief Executive Officer of Schlumberger (SLB), Mr. Olivier Le Peuch, said that the agreement is set to fast-track the attainment of Nigeria’s exploration and production objectives.
He said this acceleration would bolster Nigeria’s economic growth and prosperity.
He noted that as a company that has been on the shores of Nigeria for 70 years, Schlumberger (SLB) remains committed to investing in local talents and building capacity through technology and performance.