NNPCL Reforms on Course to revive dormant oil fields – Ojulari

By Chinedu Echianu

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Bayo Ojulari, says the company is pressing ahead with reforms to revive dormant oil fields and attract fresh investment, despite challenges.

Ojulari stated this on Thursday, when the leadership of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) paid him a courtesy visit at the NNPC Towers in Abuja.

He explained that the review of long-abandoned marginal oil assets was aimed at unlocking new opportunities, boosting crude production, and supporting President Bola Tinubu’s mandate to reposition the oil and gas sector.

“The management team is under coordinated attacks aimed at derailing the industry transformation mandate given to us by President Tinubu,” Ojulari said, adding that the company remains committed to its restructuring programme.

In his remarks, PENGASSAN President, Engineer Festus Osifo, commended the NNPC boss for his leadership and support for workers’ welfare, while acknowledging the company’s role in strengthening production capacity and improving operational stability.

“The management’s commitment has not only improved oil production but also strengthened pipeline functionality, which is critical for sustaining national output,” Osifo remarked.

The union also pointed to NNPC’s contributions to the newly signed Collective Bargaining Agreement and its active participation in the 4th PENGASSAN Energy and Labour Summit.

While praising the progress in pipeline rehabilitation, particularly the Forcados and Trans Niger lines, PENGASSAN raised concerns over Nigeria’s moribund refineries. The union proposed a public-private partnership model similar to Nigeria LNG to minimize political interference and ensure long-term viability.

Ojulari said the suggestion aligns with NNPC’s ongoing strategy, which would be unveiled in due course.

On crude oil theft, PENGASSAN highlighted its 2023 nationwide rallies and engagements with security agencies, insisting that recent production gains were the result of sustained advocacy and collective action.

The union reaffirmed its readiness to work with NNPC and other stakeholders to consolidate production growth, stabilize revenues, and strengthen Nigeria’s energy security.