The Nigerian National Petroleum Company Ltd (NNPCL) has restored production to 275,000 barrels of oil per day (bpd) following the resolution of the persistent rift between oil operators and unions.
NNPC Ltd on Sunday negotiated a peace agreement between the management of TotalEnergies, operator NNPC/Total JV, the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) and the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG). .
In a statement issued at the end of a marathon negotiation session chaired by Oritsemeyiwa Eyesan, Executive Vice President of Upstream, NNPC Ltd, all parties committed to resolving all issues within an agreed framework.
According to the statement, following the peace agreement negotiated by NNPC Ltd, oil operators and unions agreed to suspend ongoing industrial actions that would lead to the immediate restoration of production of 275,000 bpd.
The statement was signed by TotalEnergies CEO Matthieu Bouyer, PENGASSAN President Festus Osifo and NUPENG President Williams Akporeha.
It was witnessed by Ms Eyesan and Bala Wunti, Head of Upstream Investments at NNPC Upstream Investment Management Services.
Also present was Victor Bandele, Deputy CEO of TotalEnergies.