• Friday, June 21, 2024
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FG to partner Schlumberger on innovative technologies to boost oil production

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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), in a bid to boost the nation’s oil production, has fostered a partnership with Schlumberger Global oilfield services company.

Gbenga Komolafe, the Commission Chief Executive (CCE) of the NUPRC who received a delegation from Schlumberger (SLB) Global led by its global president, Olivier Le Peuch, in Abuja said that the purpose of the visit was to explore specific areas of collaboration and partnership between both organizations.

Read also: NUPRC sets a new template for domestic crude oil supply

Komolafe who engaged the SLB Global in an extensive discussion aimed at cultivating a long-term partnership, noted that the Commission has adopted a participatory and collaborative approach to facilitate ease of doing business in the oil sector.

He noted that the Commission has made several achievements since its inception in 2021 under the Petroleum Industry Act (PIA). “Key achievements include the establishment of 17 regulations aimed at improving industry standards and operational efficiency.

“Additionally, the re-engineering of the Nigeria National Data Repository (NDR) has been a significant milestone, promoting the monetization of oil blocks and aligning regulations with global energy transition initiatives and carbon footprint reduction goals,” Komolafe said.

He also mentioned the ongoing licensing rounds as a testament to the Commission’s proactive approach to regulating the sector, adding that the Commission continued to eliminate gas flaring and commercializing flared gas under the Nigerian Gas Flare Commercialization Programme (NGCP).

“This initiative has designated 49 flare sites for commercialization, demonstrating the Commission’s dedication to environmental sustainability and resource optimization,” he said.

Read also: Nigeria oil fields jump to 246 on investor response to PIA – NUPRC

Speaking on behalf of SLB Global, Olivier Le Peuch expressed satisfaction with the Commission’s regulatory framework and indicated SLB Global’s readiness to collaborate.

He reiterated the importance of such partnerships in unlocking Nigeria’s onshore and offshore oil potential, particularly through leveraging advanced technology.

Areas of mutual interest discussed included the development of Nigeria’s frontier basins and the integration of innovative technologies to enhance exploration and production efficiencies.

At the end of the meeting, it was agreed that a contact team would be established to further investigate and identify more opportunities for collaboration.

The team will focus on expanding the scope of mutual interests and ensuring that both organizations can effectively work together to achieve their shared objectives.