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NNPC GMD requests industry players’ support to grow oil reserve

  • Timely resolutions of contractual issues

Mallam Mele Kyari, the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC) has requested the support of oil and gas industry players in the country to help the corporation achieve the national aspiration to grow crude oil reserve to 40 billion barrels and boost oil production to 3 million barrels per day.

The GMD said this while speaking at the 43rd Nigeria Annual International Conference and Exhibition (NAICE) of the Society of Petroleum Engineers (SPE), in Lagos on Monday.

“To achieve this ambition, 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 further said.

The conference had its theme focusing on Artificial Intelligence, Big Data and Mobile Technology: Changing the Future of the Energy industry. Kyari thus agreed 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 environment.

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

Passing his point, the GMD opined that this could all be achieved if the industry players collaborate effectively to ensure timely resolution of contractual issues and the passage of the necessary petroleum legislation.

Source NNPC
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