The Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has said its relationship with Accrete Petroleum will help in achieving its goal of increasing oil production and reserves, The Punch reports.
The Managing Director, NPDC, Mr. Yusuf Matashi, said the company was looking to increase its oil reserves from three billion barrels to five billion barrels in the next five years. He added; “We have the asset portfolio to achieve increase in production. We have at the moment more than 10 producing assets, and with additional exploratory activities, we have confidence that we can quickly grow our asset portfolio to five billion barrels in the next five years.”
He said getting more from existing production and delivering new production more efficiently would be critical and indispensable in achieving the target. Matashi said, “Accrete Petroleum is already deploying its [software] solutions towards this and the NPDC is ready to expand same applications across all assets, consolidate and centralise in order to achieve the maximum benefits from the investments we have with our partners.”