Victor EzejaThe Nigerian National Petroleum Company Limited (NNPCL) says collaboration with its partners has enabled it to increase crude oil and gas production to 1.8million barrels per day (mbpd) and 7.4 standard cubic feet per day (scfd).
The company which made this known at a press briefing on Thursday, said it eyes hitting 2mbpd target by the end of the year.
Join our WhatsApp ChannelA Statement released by the NNPCL Chief Corporate Communications Officer, Olufemi Soneye, said the Group Chief Executive Officer, 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 Honourable Minister, and the Board,” Kyari stated.
Speaking on activities of the Production War Room, the Chief War Room Coordinator and Senior Business Adviser to the Group Chief Executive Officer, Mr. Lawal Musa, said 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.
Mr Musa explained that 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 revealed that when the Production War Room team was inaugurated on the 25 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.
His words: “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.”
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Also speaking on the development, Chairman of the NNPCL 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.”
Chief Akinyelure charged the national oil 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.
On his part, the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, expressed satisfaction with the performance of the team and pledged the Federal Government’s support for the company to do more.
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
