The Nigerian National Petroleum Company (NNPC), Energy Services Limited (EnServ) and Schlumberger (SLB), a renowned global technology company, have signed a technical partnership agreement to bolster upstream operations.

The agreement was signed at the NNPC Ltd’s Corporate Headquarters in Abuja on Thursday, and senior management teams from both companies were in attendance.

Speaking shortly after the signing, Mele Kyari, the Group Chief Executive Officer of NNPC Ltd., described the ongoing reforms within the industry as a trigger for the potential release of investments in the short term.

Mr Kyari, in a statement issued by Olufemi Soneye, NNPC’s spokesman, described the agreement as part of strategic reforms aimed at unlocking opportunities in the nation’s oil and gas industry.

“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 the President has put in place; and ultimately, we are already seeing substantial energy going into unlocking opportunities,” Mr Kyari said.

Highlighting the numerous benefits of the partnership, Kyari said it would lead to increased activity and more drilling campaigns that would add value to the two organisations.

He said that NNPC was working on a rig share platform with a definite plan around well drilling activities and associated operations in the coming years. The NNPC chief said this would increase crude oil production and support the ongoing plan to deepen gas utilisation within the country.

“We are counting on Schlumberger 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, “ the NNPC GCEO noted.

Earlier in his remarks, Olivier Le Peuch, Schlumberger’s CEO, said the agreement would accelerate the achievement of Nigeria’s exploration and production targets, which would 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. 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.

(NAN)