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DPR flags off search, rescue, command centre in Lagos

The Department of Petroleum Resources (DPR) on Monday flagged off the Oil and Gas Search, Rescue and Surveillance (SeRAS) Command and Control Centre in Lagos ....

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NNPC Rallies Stakeholders To Achieve $10per barrel Oil production Cost

NNPC Rallies Stakeholders To Achieve $10per barrel Oil production Cost
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Cut oil production cost to survive, NNPC tells operators

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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. ....

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Oil production still 300% higher than Nigeria's projectionBusiness — The Guardian Nigeria News – Nigeria and World News

Minister of Petroleum, Timipre SylvaMinister of State for Petroleum Resources, Timipre Sylva, yesterday revealed that Nigeria still spends around $30 in producing a barrel of crude oil despite the undulating price of the commodity at the international market.
Although the Federal Government has been making efforts to bring down the cost to about $10, the current cost for Joint Venture production is 300 per cent higher than the projected target.
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Speaking at the launch of the Nigerian Upstream Cost Optimisation Programme (NUCOP), in Abuja, Sylva put the figure for joint venture production at $20/barrel, and Production Sharing Contract (PSC) at about $20/barrel. ....

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NNPC Rallies Industry Stakeholders For Upstream Cost Optimization

(AFRICAN EXAMINER) - The Nigerian National Petroleum Corporation (NNPC) has called on stakeholders in the oil and gas industry to join in working towards ....

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