Nigeria’s crude oil output has been restored to 275,000 barrels per day (bpd) after the Nigerian National Petroleum Company Limited (NNPC Ltd.) successfully brokered a peace deal between TotalEnergies, the operator of the NNPC/TotalEnergies JV, and the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) over the sales of Eni Nigeria’s stake in Nigeria Agip Oil Company (NAOC) to Oando Plc.
Olufemi Soneye, Chief Corporate Communications Officer NNPC Ltd. made this known in a statement obtained by EnergyDay on the sideline of the communiqué issued by NNPC Ltd. after all parties committed to resolving all the issues within an agreed framework.
According to the statement the marathon negotiation session was chaired by Oritsemeyiwa Eyesan, NNPCL Executive Vice President, Upstream, leading to the suspension of the ongoing industrial action by PENGASSAN and NUPENG.
The communiqué was signed by Matthieu Bouyer, TotalEnergies MD/CEO, Comrade Festus Osifo, PENGASSAN President, and Comrade Williams Akporegha NUPENG President.
Festus Osifo, PENGASSAN President, in his comment concerning the agreement, said that the content of the peace deal will be communicated to all PENGASSAN members in the offices and field locations immediately.
Osifo therefore commended the NNPCL management for the courage to settle the rift between the oil workers and TotalEnergies E&P and charged that all the letters of the agreement be implemented to the latter to avoid the reoccurrence of the industrial actions by the union members.
EnergyDay’s check showed that in September 2023, PENGASSAN and NUPENG threatened to withdraw their services from Total, Chevron, in protest of the sale of Eni Nigeria’s stake in Nigeria Agip Oil Company (NAOC) to Oando Plc, perceived as not following due process.
In a bid to protect the rights of workers and ensure that the industry follows laws and regulations, the Unions in solidarity with NAOC staff, withdrew services in the facility to drive home their demand.
Oando Plc. in September agreed to acquire 100% of the shares of Nigerian Agip Oil Company (NAOC) from Eni, an Italian multinational energy company.
The deal will increase Oando’s ownership stake in all NEPL/NAOC/OOL Joint Venture assets and infrastructure, which include 40 discovered oil and gas fields, 24 of which are currently producing, and 40 identified prospects and leads.
Additionally, the acquisition will grow Oando’s exploration asset portfolio through the acquisition of a 90% interest in OPL 282 and a 48% interest in OPL 135, increasing its total 2P reserves by 98% and its ownership stake in all NEPL/NAOC/OOL Joint Venture assets and infrastructure.