Photo caption: Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, speaking during the media briefing to announce the 1.8mbopd crude oil production milestone at the NNPC Towers in Abuja, on Thursday. The Minister is flanked on the right by the Chairman, NNPC Board, Chief Pius Akinyelure and on the left, by the GCEO NNPC Ltd, Mr. Mele Kyari.
By Emeka Ugwuanyi
Nigeria’s daily production has risen to 1.8 million barrels of oil per day (bopd) with a target of two million barrels per day by end of this year.
The current and anticipated production levels were made possible the Nigerian National Petroleum Company Limited (NNPC Ltd) and its partners including the international oil companies (IOCs) and the independents.
The partnership recently revved up crude oil production to 1.8million barrels per day (mbpd) and daily gas production to 7.4 billion standard cubic feet (mmscfd).
The new production levels were announced at a press briefing on Thursday by the Minister of State for Petroleum Resources (Oil), Dr Heineken Lokpobiri, in Abuja. The minister said the feat was achieved in compliance with the mandate of President Bola Ahmed Tinubu.
Speaking on the development, the Group Chief Executive Officer, NNPC Ltd, Mr. Mele Kyari, congratulated the Production War Room Team that anchored the production recovery process.
“The team has done a great job in driving this project of not just production recovery but also escalating production to expected levels that are in the short and long terms acceptable to our shareholders based on the mandates that we have from the President, the Hon. Minister, and the Board,” Kyari explained.
Photo caption from left: Newly appointed Chief Financial Officer, NNPC Ltd, Mr. Adedapo Segun; General Counsel/Company Secretary, NNPC Ltd, Mr. Chidi Momah and newly appointed Executive Vice President Upstream, Mr. Udobong Ntia during a media briefing to announce the 1.8mbopd crude oil production milestone at the NNPC Towers in Abuja, on Thursday.
Giving details of the efforts of the Production War Room, the Chief War Room Coordinator and Senior Business Adviser to the Group Chief Executive Officer, Mr. Lawal Musa, disclosed that the feat was achieved through the collaborative efforts of Joint Venture and Production Sharing Contract partners, the Office of the National Security Adviser, as well as government and private security agencies.
He said the interventions that led to the recovery of production cut across every segment of the production chain with security agencies closely monitoring the pipelines.
He stressed that when the Production War Room team was inaugurated on the 25th June 2024, production was at 1.430mbpd, but the team swung into action, culminating into it sustaining the production recovery to 1.7mbpd in August and hitting the current 1.808mbpd in November.
“We are confident that with this same momentum and with the active collaboration of all stakeholders, especially on the security front, we can see the possibility of getting to 2mbpd by the end of the year,” he stated.
Photo caption: Chief Production War Room Coordinator and Senior Business Adviser to the GCEO, Mr. Lawal Musa provides details during a media briefing to announce the 1.8mbopd crude oil production milestone at the NNPC Towers in Abuja, on Thursday.
Also speaking on the development, Chairman of the NNPC Ltd Board of Directors, Chief Pius Akinyelure, who also congratulated the team, said he was happy to be part of the production recovery process, adding: “today, I will leave this place with my heart full of joy”.
He charged the Company’s Management to come up with a cashflow projection based on the new production figures to facilitate planning, stressing that he was looking forward to further production increase to 3mbpd.
The Minister, Senator Heineken Lokpobiri, further expressed satisfaction with the performance of the team and pledged the Federal Government’s support for the company to do more.
