By Friday Omosola
The Nigerian National Petroleum Company Limited (NNPC) has announced a significant milestone in crude oil and gas production, reaching 1.8 million barrels per day (mbpd) and 7.4 standard cubic feet per day (scfd) of gas.
At a press briefing on Thursday, NNPC announced it aims to increase crude oil production to 2mbpd by the end of 2024.
NNPC attributed the achievement to the mandate of President Bola Tinubu and the dedicated efforts of its Production War Room Team.
Group Chief Executive Officer, Mele Kyari, commended the team for their role in the production recovery process.
“The team has done a great job not only in recovering production but also in escalating it to levels acceptable to our shareholders, based on the mandates from the President, the Honourable Minister, and the Board,” Kyari stated.
The Chief War Room Coordinator and Senior Business Adviser to the GCEO, Lawal Musa, highlighted that the milestone was achieved through the combined efforts of Joint Venture and Production Sharing Contract partners, the Office of the National Security Adviser, and various security agencies.
He revealed that production was at 1.43mbpd when the Production War Room was inaugurated on June 25, 2024. The team quickly ramped up production to 1.7mbpd in August and reached 1.808mbpd in November.
“With sustained momentum and continued collaboration, especially on security, we are confident of hitting the 2mbpd target by year-end,” Musa said.
Chairman of the NNPC Ltd. Board of Directors, Pius Akinyelure, lauded the team’s achievements and called for cash flow projections based on the new production figures to aid planning.
He expressed optimism about increasing production to 3mbpd in the future.
“This milestone fills my heart with joy. I look forward to even greater accomplishments,” Akinyelure said.
The Minister of State for Petroleum (Oil), Heineken Lokpobiri, also praised the team’s performance and reaffirmed the Federal Government’s commitment to supporting NNPC Ltd. in achieving its goals.
NNPC continues to position itself as a key driver of Nigeria’s energy production and economic growth, with ongoing efforts to enhance security and operational efficiency across the oil and gas sector.
