FG Targets 50% Reduction in Annual Cost of Offshore, Remote Operations
By Peter Uzoho The federal government has stated that the National Oil and Gas Excellence Centre (NOGEC) Lagos would enable the country to reduce by half its annual cost of operations in both offshore and remote locations. The Minister of State for Petroleum, Mr. Timipre Sylva, stated this yesterday in Lagos at the launch of the NOGEC and added that the projected 50 per cent reduction would lead to the realisation of the $10 per barrel oil production cost target. The centre, which is sited at the Department of Petroleum Resources (DPR)’s annex in Lagos, was launched virtually in Abuja by Pr...
Source: thisdaylive.com