The Nigerian National Petroleum Corporation Limited (NNPC. Ltd) has signed a significant agreement with Schlumberger, an American oilfield business, to expand upstream operations in Nigeria’s oil and gas sector.
Olufemi Soneye, the NNPC’s spokesperson, stated this on Thursday in Abuja.
According to the announcement, the oil companies have inked a technical partnership agreement to promote investment in the country’s upstream sector.
Soneye stated that the agreement was finalized on Thursday at NNPC Ltd.’s Corporate Headquarters in Abuja, in the presence of both firms’ senior management teams. He did not, however, discuss the financial aspects of the transaction.
Soneye transmitted a statement from Mr. Mele Kyari, Group CEO of NNPC Ltd., stating that the arrangement would improve operational activities and increase drilling campaigns, providing value to both organizations.
In the statement, he attributed the speedy contractual processes as clear evidence of the President’s apparent changes, remarking that the nation saw significant energy being directed into unlocking today’s prospects.
The press release disclosed that the NNPC had been banking on Schlumberger (SLB) as its partner for 70 years, hence seeing the prospects and strategic necessity of collaborating with them.
In his remarks, Mr. Olivier Le Peuch, Chief Executive Officer of Schlumberger (SLB), stated that the arrangement is intended to accelerate Nigeria’s exploration and production goals.
He affirmed that this acceleration will boost Nigeria’s economic growth and prosperity.
He added that Schlumberger (SLB), present in Nigeria for 70 years, is still committed to investing in local people and developing capacity through technology and performance.
He reiterated that the firm is pleased to be at the center of the transition and is in a position where its technical capability, technology, and capacity can be brought into the country to support the operations of NNPC Ltd.
