The Nigerian National Petroleum Company Limited (NNPC Ltd.) has successfully mediated a peace deal between the management of TotalEnergies, the operator of the NNPC/TotalEnergies Joint Venture, and the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) along with the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG).
This reconciliation, brokered on Sunday, has resulted in the suspension of the ongoing industrial action, leading to the immediate reinstatement of 275,000 barrels of oil per day (bopd) production.
The breakthrough emerged from a lengthy negotiation session chaired by Oritsemeyiwa Eyesan, Executive Vice President, Upstream, NNPC Ltd.
All involved parties have committed to resolving outstanding issues within an agreed-upon framework, as outlined in a communiqué issued at the conclusion of the marathon negotiations.
Signatories to the communiqué include TotalEnergies MD/CEO Matthieu Bouyer, PENGASSAN President Comrade Festus Osifo, and NUPENG President Comrade Williams Akporegha.
The document was witnessed by NNPC Ltd.’s EVP Upstream Oritsemeyiwa Eyesan, Chief Upstream Investment Officer of NNPC Upstream Investment Management Services, Bala Wunti, and Victor Bandele, Deputy Managing Director of TotalEnergies.
The restoration of oil production, a direct outcome of this resolution, marks a significant step towards stability in the petroleum sector, contributing to sustained national energy output.
