The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) has announced the restoration of 275,000 barrels of oil per day (bpd) production following the settlement of a lingering rift between oil operators and unions.
The NNPC Ltd., the upstream subsidiary of the state-owned NNPC, brokered a peace deal on Sunday between TotalEnergies, the French oil giant and NNPC/Total joint venture operator, and the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG).
In a communiqué issued at the end of a marathon negotiation session chaired by Executive Vice President, Upstream, Nigerian National Petroleum Company Ltd., Mrs. Oritsemeyiwa Eyesan, all parties committed to resolving the issues within an agreed framework.
READ ALSO: Hold NNPCL Responsible if Port Harcourt, Warri Refineries Don’t Resume Operations in December
According to the communiqué, following the peace deal brokered by Nigerian National Petroleum Company Ltd., the oil operators and unions agreed to suspend ongoing industrial action, leading to the immediate restoration of 275,000 bpd production.
The communiqué was signed by TotalEnergies Managing Director and CEO, Mr. Matthieu Bouyer, PENGASSAN President Festus Osifo, and NUPENG President Williams Akporeha.
It was witnessed by Nigerian National Petroleum Company Ltd., EVP Upstream, Mrs. Oritsemeyiwa Eyesan, and Mr. Bala Wunti, Chief Upstream Investment Officer, the Company Upstream Investment Management Services.
Also in attendance was Deputy Managing Director, Total Energies, Mr. Victor Bandele.