NNPC calls for support on 40bb oil reserve boost, 3mbp production

*Mele Kyari

Lagos - The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, has called on oil and gas industry players in the country to support the national oil company to achieve the national aspiration to grow crude oil reserve to 40 billion barrels and boost oil production to 3 million barrels per day.

In a statement on Monday, Kyari said the support could only be achieved if players collaborate effectively to ensure timely resolution of contractual issues and the passage of the necessary petroleum legislation.

“To achieve this ambition, a huge investment is required across the value chain. We have to attract investment to deploy improved technology in the exploration and production of hydrocarbon from inland as well as the ultra-deep offshore basins,’’ he said.

Kyari challenged industry operators and stakeholders alike to desist from further lamentations of the challenges that plague the operating environment but pick up the gauntlet and confront the issues frontally with diligence and sure mindedness.

The NNPC GMD acknowledged the fact that the emergence of artificial intelligence has altered the dynamics of operations by providing quicker processes and interventions in the conduct of business in the industry made possible by effective deployment of big data.

He challenged industry players to be forward-looking and embrace this approach in seeking solutions to the challenges that confront the industry.

He said that technology and innovations will continue to shape the way the oil and gas industry businesses and operations are conducted especially in the deep offshore and other hard-to-operate environments.

“Artificial intelligence, big data, and mobile technology will continue to shape our industry in practically unimaginable ways, but certainly the transformations they promise will lead to a quantum shift in the delivery of our task,’’ he said.