The 20 percent increase in crude oil production from ENI’s Abo asset is a significant boost to Nigeria’s quest to increase its output to 3 million barrels per day, the Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission(NUPRC), Engr. Gbenga Komolafe, has said.
Located in OML 125 deep offshore, Abo asset was Nigeria’s first deepwater producing field, operated by ENI’s subsidiary, Nigerian Agip Exploration (NAE), through a production sharing contract with the Nigerian National Petroleum Company and other partners.
The CCE stated this in his office in Abuja when he received a high-level delegation from ENI for strategic discussions to deepen their collaboration to boost production, investment confidence and operational efficiency in Nigeria’s upstream oil and gas sector.
Komolafe said the visit of the ENI chieftains underscored the growing optimism within the oil and gas industry that Nigeria’s pursuit from the current average of 2.3mbpd to about 3mbpd was achievable.
In welcoming the delegation, the NUPRC Chief reiterated the Commission’s unwavering commitment to driving regulatory efficiency, fostering investment growth, and ensuring a stable, secure operating environment for operators in the industry.
“Our rig count has been growing geometrically, reflecting renewed investor confidence. This momentum reinforces Nigeria’s emergence as a preferred destination for upstream investments,” Komolafe said.
He noted that recent operational gains have strengthened the positive outlook and optimism in the industry, and commenced ENI for recorded a 20 percent production increase at its Abo asset, describing it as the company’s first production overrun in decades.
The CCE attributes the improvement to a reduction in the level of vandalism of oil facilities in the Nigerian Delta region, improved asset security, and enhanced operational capacity, particularly in deepwater operations.
Highlighting Nigeria’s improving oil production environment both onshore and offshore fields, the CCE said these were already yielding tangible outcomes.
The reduction in vandalism incidents by 90 percent, he pointed out, had unlocked greater asset uptime and boosted operational efficiency across the oil production value chain.
Coupled with near-full capacity utilisation at Nigeria LNG Train 6 and efforts to fully optimise Train 7, Komolafe said this signaled sustained momentum of progress and growth in the sector.
While commending ENI for its continued confidence in Nigeria, the CCE reiterated the Commission’s dedication to sustaining reforms that would support investment growth.
In his remarks, ENI’s Director, Upstream, Mr. Luca Vignati, emphasised the positive shift in Nigeria’s operational landscape, which he noted has transformed oil production remarkably over the last 18 to 24 months.
“This is a credit to the authorities for providing an enabling environment, and to international oil companies that have recognised the opportunity to operate more efficiently,” he said.
Contrary to popular perception in the industry, Vignati said international companies were not leaving Nigeria, rather were simply moving further into deepwater operations.
“For the first time in decades, ENI is producing above budget in Nigeria, with a 20 percent increase at the Abo asset. This is a clear sign of improved operational stability, reduced vandalism, and growing investor confidence in the country’s upstream sector,” he said.
