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’Femi Asu
the Nigerian National Petroleum Corporation has urged operators in the nation’s oil and gas industry to cut the cost of production in order to survive in the face of the global energy transition.
The NNPC called on stakeholders in the industry to join in working towards reducing operations cost to achieve the $10 or less per barrel production cost target.
The Group Managing Director of NNPC, Mallam Mele Kyari, made the call on Tuesday at the launch of the Nigerian Upstream Cost Optimisation Programme in Abuja.
Speaking at the event, the NNPC boss said the current reality dictated by the global energy transition and demand erosion occasioned by the COVID-19 pandemic has made cost optimisation imperative.