On Tuesday 9th February 2021, the Nigerian National Petroleum Corporation (NNPC) launched the Nigerian Upstream Cost Optimisation Programme (NUCAP) which aimed to optimize the cost of production in the upstream sector of the Nigeria oil and gas industry.
Mallam Mele Kyari, NNPC’s Group Managing Director, said the corporation is committed to optimising the cost of production in compliance with President Muhammadu Buhari directives and in alignment with current realities of the energy transition, consumer and investor choices.
The launch of NUCAP is a move to achieve $10 per barrel crude oil production cost. Is it possible? Is it feasible? It is; if the rights things are done. Bala Wunti, Group General Manager, NAPIMS said it is possible; he made an excellent presentation at the launch of the programme.
The NNPC is passionate about production cost reduction and sustaining the reforms in the oil and gas sector as well as work within the tenets of President Buhari’s directives and policies– cleanup the oil and gas; sustain transparency.
For the NNPC to achieve 100% success, the corporation has to keep up and bring-out the benefits of the painstaking reforms, utilize its in-house experiences to put the right people and policies in the right position and time, the NNPC has some painstaking tasks ahead in the area of production cost reduction in the upstream sector, nevertheless Nigerian Upstream cost Optimisation Programme is a good programme.
Zayyad I. Muhammad, Jimeta, Adamawa State