FG seeks lower crude oil production costs, targets 40bn barrels reserve

FG seeks lower crude oil production costs, targets 40bn barrels reserve

The federal government has called on operators in the nation’s oil and gas industry to search for more efficient ways of exploiting the commodity in reducing the cost of production per barrel.

President Muhammadu Buhari, represented by Timipre Sylva, minister of state for petroleum resources, said this at the fourth edition of the Nigeria international petroleum summit (NIPS) in Abuja on Monday.

Buhari said his administration’s drive for discovery of more reserves and ramping up oil production is irrevocable and he called for stringent measures to reduce production…

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FG seeks lower crude oil production costs, targets 40bn barrels reserve

 

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