NNPC Urges Professionals to Find Solutions to Oil Industry Challenges

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The
Nigerian National Petroleum Corporation (NNPC) has challenged professionals in
the Nigerian Petroleum sector to come up with solutions to tackle current
challenges facing the industry.

The
Group Managing Director of NNPC, Mallam Mele Kyari, gave the charge while playing
host to the Executive members of the Society of Petroleum Engineers (SPE),
Nigerian Council, in Abuja on Tuesday.

He
listed over-supply and the outbreak of the COVID-19 – which has led to a
considerable fall in the price of crude oil – as the two major challenges
facing the oil and gas industry today.

“The
combination of these two events means that there would be a lull in activities
in the oil industry, and if forecasts are right, we may witness very low oil
prices throughout the year and that will have a collateral effect on the
economy”, the GMD observed.

He,
therefore, urged professionals to come up with a blueprint on how to get things
done economically in order to minimize the negative impact of the current
situation on the industry.

The
GMD said NNPC has repositioned its Research and Development business into an
innovation centre that can provide the needed solution and services for the
technological development in the petroleum industry.

On
his part, President of the SPE, Joe Uwakwe, said the business of his society was
to seek technical solutions to industry problems, adding that the present
challenges require the development of technology to produce crude oil in a
cost-efficient manner. 

He
assured that professionals in the industry would do what is necessary to
overcome the present challenges.