08 August 2017, Sweetcrude, Lagos – General Manager, West Assets at Seplat Petroleum Development Company, Chima Njoku, has said that small and independent oil and gas companies should form mergers to achieve operational excellence.
He told SweetcrudeReports in an interview that for small and independent companies to cut costs, maximise services and stay afloat, there was need for them to merge.
He said small companies are also key stakeholders in the oil and gas industry and that their interests must be balanced and protected for the progress of the sector.
“There is a lot to be done by the independent indigenous oil and gas companies to achieve the best in their operations and stay afloat especially at this critical time in the sector.
“Now, costs of production are rising and the small companies are struggling to stay alive. I think the solution is to form a merger in order to cut costs,” he said.