The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced the restoration of 275,000 barrels per day (bpd) of oil production following a peace deal brokered between the management of TotalEnergies, 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).
The peace deal was brokered on Sunday, November 12, 2023 by NNPC Ltd., and led to the suspension of ongoing industrial action by the unions.
In a statement issued on Sunday, NNPC’s Chief Corporate Communications Officer, Olufemi O. Soneye, disclosed that all parties committed to resolving all the issues within an agreed framework.
The communiqué issued at the end of a marathon negotiation session was signed by TotalEnergies MD/CEO Matthieu Bouyer, PENGASSAN President, Comrade Festus Osifo, and NUPENG President, Comrade Williams Akporegha.
It was witnessed by NNPC Ltd.’s Executive Vice President, Upstream, Oritsemeyiwa Eyesan, and Chief Upstream Investment Officer, NNPC Upstream Investment Management Services, Bala Wunti.