NNPCL Restores 275,000 bpd Oil Production at TotalEnergies through Groundbreaking Peace Deal
The Nigerian National Petroleum Company Limited (NNPCL) has successfully revived oil production to 275,000 barrels per day at TotalEnergies, thanks to a breakthrough peace deal.
This development was confirmed in a statement dated November 12, signed by Olufemi Soneye, the Chief Corporate Communications Officer at NNPCL.
The statement highlights a significant reconciliation between the management of TotalEnergies and two critical labor unions, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG).
More Insight
A segment of the statement notes: "A peace deal was brokered on Sunday, November 12, 2023, by the Nigerian National Petroleum Company Limited (NNPC Ltd.), bringing together the Management of TotalEnergies, the operator of the NNPC/TotalEnergies Joint Venture, PENGASSAN, and NUPENG.
As a result, the unions have agreed to suspend ongoing industrial action, leading to the immediate restoration of 275,000 barrels of oil per day production."
Also, during a lengthy negotiation session chaired by Oritsemeyiwa Eyesan, Executive Vice President, Upstream at NNPC Ltd., all involved parties committed to resolving outstanding issues within an agreed framework.
The communiqué was signed by TotalEnergies' MD/CEO Matthieu Bouyer, PENGASSAN President Comrade Festus Osifo, and NUPENG President Comrade Williams Akporegha.
It was witnessed by NNPC Ltd.'s EVP Upstream Oritsemeyiwa Eyesan and Chief Upstream Investment Officer at NNPC Upstream Investment Management Services, Bala Wunti. Victor Bandele, Deputy Managing Director of TotalEnergies, was also in attendance.
Futhermore, In response to this positive development, PENGASSAN President Comrade Festus Osifo expressed: "Today we have been able to reach an agreement, and for the virtue of this agreement, we as PENGASSAN are committed to every letter in this agreement.
We have resolved to restore normalcy across all offices and field locations immediately. We will communicate to our members to resume work promptly."
Finally, this resolution marks a critical turning point in the energy industry, with NNPCL playing a pivotal role in restoring oil production to optimal levels at TotalEnergies through effective conflict resolution and cooperation with key stakeholders.
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