The General Managing Director of Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari has identified various efforts by group to curtail the soaring cost of operations caused by the Coronavirus pandemic.
Speaking during the 2020 Virtual Conference of the Nigerian Association of Petroleum Explorationists (NAPE), Kyari noted that the group as been striving towards creating sustainable ways to survive since the outbreak of the novel coronavirus.
As disclosed on the official Twitter handle of NNPC, he said “as a national oil company, our response to situation like this (COVID-19) is not to shut down operations owing to the linear relationship between the oil industry & our Nation’s economy. What first come to mind is how to survive & sustain our operations.”
“For us today, sustaining operations & making progress means improving efficiency, reducing costs, eliminating wastage, entrenching accountability, acting with Transparency & embracing technology/innovation to drive Performance & realize value across strategic investment portfolios” he added.
He further explained that the “NNPC group has made significant progress in improving operational efficiency through the adoption of technology and deliberate effort to curtail soaring cost of operations across strategic assets.”
“It is instructive to understand that the current market reality cant support inefficiency and escalated costs of operations. The era of $30/bbl oil no longer exist. I therefore urge you to continue to demonstrate professional commitment to help the industry survive” the Managing Director added.
He also recognized the resilience of the Group’s inhouse professionals and commended them saying “let me appreciate the good work/resilience of NNPC’s inhouse professionals in the ongoing inland basins exploration activities that culminate to recent discovery of hydrocarbons in Gongola basin. We’re proud that it is NAPE members that are spearheading this effort”.