NNPC, Schlumberger Sign Agreement to Boost Upstream Operations

NNPC Ltd has announced a technical partnership agreement with Schlumberger to enhance upstream operations, marking a significant step in strategic reforms aimed at unlocking opportunities in Nigeria’s oil and gas industry.

The agreement was signed on Thursday at NNPC Ltd’s headquarters in Abuja, with senior management teams from both companies present.

According to Olufemi Soneye, Chief Corporate Communications Officer at NNPC Ltd, this partnership is part of broader strategic reforms designed to leverage opportunities within the nation’s oil and gas sector.

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“As part of strategic reforms aimed at unlocking opportunities in the nation’s oil and gas industry, 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 stated.

Group Chief Executive Officer of NNPC Ltd, Mele Kyari, highlighted that the ongoing reforms in the industry are expected to release substantial investments in the short term. He emphasized the improvements in the physical environment and contracting processes as key drivers behind these reforms.

“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 outlined the benefits of the partnership, including increased activity and more drilling campaigns, which will add value to both organizations. He mentioned NNPC’s plans for a rig share platform focused on well drilling activities and associated operations, which will boost crude oil production and support efforts to deepen gas utilization in Nigeria.

“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 added.

Schlumberger’s Chief Executive Officer, Olivier Le Peuch, expressed optimism about the agreement, emphasizing its potential to accelerate Nigeria’s exploration and production targets and foster economic growth.

“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,” Mr. Le Peuch said.

He reaffirmed Schlumberger’s long-standing commitment to Nigeria, highlighting the company’s focus on investing in local talent 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,” he concluded.