Nigeria: NNPC, Schlumberger forge agreement to enhance upstream operations

The Nigerian National Petroleum Company Energy Services Limited (EnServ) and Schlumberger (SLB) has solidified their collaboration by signing a technical partnership agreement. This significant event occurred at the NNPC Ltd headquarters in Abuja, with senior management teams from both entities present.

According to a statement by Olufemi Soneye, the chief corporate communications officer of NNPC Ltd, the agreement marks a pivotal step in strategic reforms aimed at enhancing upstream operations in Nigeria’s oil and gas industry.

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

Speaking shortly after the signing, Group Chief Executive Officer of NNPC Ltd, Mele Kyari, described 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,” Mr Kyari said.

Mr. Kyari emphasized the myriad advantages of the partnership, stating that it would result in heightened activity and an expansion of drilling campaigns, ultimately benefiting both organizations.

Furthermore, he disclosed NNPC’s initiative to establish a rig share platform, with a clear strategy focused on well drilling activities and related operations in the foreseeable future. This strategic move aims to augment crude oil production and facilitate the ongoing efforts to enhance gas utilization nationwide.

Mr Kyari, who expressed confidence in the long-standing relationship between NNPC Ltd and Schlumberger (SLB), said 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,” he said.

In his remarks, the Chief Executive Officer of Schlumberger (SLB), 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 to achieve its exploration and production targets.