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Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPCL), Engr. Bayo Ojulari, said Nigerian oil production consistently failed its potential despite a lot of reserves, emphasizing the need to change the narration.
Ojulari made this call on Wednesday in Abuja while delivering the main speech at the Nigerian Petroleum Senior Staff Association (Pengassan) (PEALS), the theme “Building a Tough Oil and Gas Sector in Nigeria: Promoting HSE, ESG, Investment, and Production.”
“Although there are many reserves, Nigerian production output does not match our potential. We must change the narration. Each barrel is taken into account. Every gas molecule is taken into account. Additional production will not come from one big step, but from many intelligent and coordinated actions in the entire value chain,” Ojulari said.
He highlighted the NNPCL focus area as a strict field development, increasing security in Delta Niger, limiting leakage, and opening stranded assets. He added that partnerships, data -based decisions, and innovation will be the center to achieve a sustainable daily production level.
Ojulari also underlines the importance of resilience in the Nigerian oil and gas sector in the midst of the rapidly developing global energy landscape formed by the necessity of energy security and energy transition twins. According to him, resilience must be anchored to operational excellence, fiscal discipline, compliance with regulations, and leadership centered on people.
He stressed that the principles of the environment, social, and governance (ESG) are very important to build long -term trust and values. He explained that the NNPCL energy transition road map prioritized reducing its carbon traces, investing in gas as transition fuel, and strengthening transparency.
The Head of NNPCL further calls for a stable and attractive investment climate creation supported by the Oil Industry Act (PIA), noting that the company’s new business model emphasizes the creation of values, competitiveness, asset monetization, infrastructure investment, and public-private partnership.
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Praising the role of passing in the development of labor and industrial protection, Ojulari urges trade unions and stakeholders to remain in the future in developing sustainable oil and gas sectors.
In his speech, the President of Pengassan and Leader of the Trade Union Congress (TUC), Camelarad Festus Osifo, emphasized the centrality of workers’ safety, condemning dangerous practices in this sector.
He quoted a new viral video that shows oil workers involved in risky tasks without proper protective equipment, describing it as a threatened deviation and triggered industrial actions due to poor management responses.
“The actual service size is to ensure that every worker returns to the house safely. Unsafe conditions should not be a price of endurance,” Osifo said.
He stressed that workers in all sectors, from tributaries to offshore platforms, deserve a safe environment, a strong safety process, sustainable training, sophisticated technology, and transparent reporting mechanisms.
Osifo also reflects the impact of the Summit which is increasingly greater in overcoming the challenges of the main industry, including gas development, energy transitions, integration of artificial intelligence, and theft of crude oil.
