The Nigerian National Petroleum
Company Limited (NNPC Ltd)
and its partners on Thursdsy announced their achievement of crude oil and gas production capacity of 1.8 million barrels per day (mbpd) and 7.4 billion standard cubic feet per day (bscfd), just as they target the milestone of 2million barrels per day production capacity by the end of December 2024.
The company said the feat was
achieved in compliance with the
mandate by the President and Minister of Petroleum Resources, Bola Ahmed
Tinubu.
Speaking on the development,
the Group Chief Executive officer, Mele Kyari, congratulated the NNPC Ltd 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 Minister, and the Board,” Kyari said.
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, 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.
Musa 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 1.430
mbpd. 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.
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 to increase to 3mbpd in ghe near future.
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, expressed satisfaction with the
performance of the team and
pledged the Federal Government’s support for the company to do
more.
