He expressed this in his comments at the 2016 Annual Oloibiri Lecture Series and Energy Forum composed by Society of Petroleum Engineering (SPE) Nigeria Council.
“For the national oil firm, a considerable measure of work is going on; I am certain some of you have seen the impacts.
“Be that as it may, inside of the following one week, we will be reporting some truly real redesign of the framework; one that hasn’t been done in more than 20 years.
“The impact of that would be to honestly split the immense organization into four to five principle operational zones.
“The upstream, downstream, midstream, refining and obviously every different organizations that are drifting to the endeavor bunch,” he said.
By, in addition imperative is that in the meantime, “we are additionally unbundling the subsets of these organizations to near around 30 autonomous organizations with their own overseeing chiefs”.
He said that titles like the gathering official executives which individuals had been utilized to in the most recent 30 years would vanish and would be supplanted with CEOs.
Mr. Kachikwu said that there was the requirement for individuals to take obligations regarding their titles.
“They need to mean something; they are not authoritative parts. So by the day’s end, a CEO of an upstream organization must convey me upstream results.
“We are extremely centered around that and along those chains; we are doing exceptionally sensational things inside of the segment to bring the change.
“I am upbeat that we are picking up the collaboration of individuals inside of the business; that is the main way we can promise manageable vocation way for those in the business.
“We are conceivably moving in a bearing where truth be told without precedent for around 15 years, this organization will be beneficial,” he said.
The pastor said that the stride was a tip of the chunk of ice in light of the fact that the unbundling of the 30 organizations would make the part more aggressive.
“When these 30 organizations are unbundled with their overseeing executives setting programs, you are going to meet us in the dynamic work space.
“We will be contending and we are going to make these things work,” he said.
He said that there were key issues that were relevant in the area which included getting the upstream working once more.
“Actually on the off chance that we proceed in light of present conditions, the normal bend decays that you find in the creation landscapes will be decimating throughout the following five years.
He said that concentrating on gas strategies was a key component and he was setting an objective of 12-month sort motivation to attempt and touch base at a few conclusions.
He said that part of the arrangement was to work with the National Assembly and others with approach creators.
“We will be working with the business to attempt and get to a position that everyone is alright with yet then we have no option today than giving more regard for what we have to do with gas.
“Regarding the worth chain logistical elements, we got the chance to start to converse with ourselves since ordinarily we have a captivated relationship between the oil organizations and the administration however the fact of the matter is to succeed.
“We all need to play in the same box thus I am having a considerable measure of discussions with the oil organizations.
“That is going to proceed however the pith is that we must start to characterize the contractual terms in this industry,” he said.