NNPC Pushes AI Adoption, Targets $34bn Investment Pipeline to Cut Oil Production Costs
The Nigerian National Petroleum Company Limited (NNPC Ltd) has revealed a major push toward artificial intelligence (AI) and digital transformation as part of efforts to reduce production costs and boost efficiency in the country’s oil and gas sector. The company says these reforms are already attracting significant investor confidence, with over $24 billion in new investments unlocked and another $10 billion in the pipeline.
Speaking at the 2026 Oloibiri Lecture and Energy Forum in Abuja, NNPC Group Chief Executive Officer Bashir Bayo Ojulari said Nigeria’s upstream sector is entering a new phase of growth driven by policy reforms, improved investor trust, and technology adoption. He noted that long-standing disputes and stalled Final Investment Decisions (FIDs) had been resolved, helping to reopen major investment flows into the sector.
Ojulari stressed that beyond funding, the industry must embrace digitalisation, warning that failure to adopt AI could leave operators uncompetitive. He explained that decades of oil and gas data—some still stored in paper logs and unprocessed seismic records—represent untapped value that could significantly improve production efficiency if properly analysed using modern technology.
He also outlined NNPC’s three-part strategy to achieve Nigeria’s ambitious target of producing 3 million barrels per day. This includes protecting existing oil assets, accelerating near-term production through innovative financing models, and restructuring the company’s portfolio to attract new investors and increase indigenous participation in the sector.
According to him, the combined investment pipeline now stands at about $34 billion, signaling renewed global confidence in Nigeria’s oil industry. Stakeholders at the forum, including the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, agreed that while Nigeria has strong policy reforms and technical capacity, success will depend on execution, regulatory consistency, and deeper integration of digital technologies like AI across the energy value chain.
source: punch