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NNPC laments low oil production

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The Nigerian National Petroleum Corporation (NNPC) has expressed its readiness to partner with stakeholders in oil and gas to grow the nation’s fast depleting reserves.

The Group Managing Director (GMD), NNPC, Dr. Maikanti Baru, made this commitment when the Nigerian Association of Petroleum Explorationists (NAPE) hosted him to a dinner in Abuja at the weekend.

He said the 2016 national average oil production of 1.9 million barrels is low partly due to oil infrastructure vandalism, saying there’s need for stakeholders to share data and use common available resources to reduce cost of operations in the area of rig-sharing, vessel sharing and synergy in projects development. He said this has become expedient in this era of low oil prices and security challenges, according to NNPC statement

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