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BUSINESS

NNPCL, Joint Partners to Add 192,000 bpd to Nigeria’s Production

July 13, 2023 • 2 min read

In it’s bid to meet the country’s OPEC quota, the Nigerian National Petroleum Company Limited and its joint venture partners plan to add about 192,000 barrels of crude oil per day to Nigeria’s oil production between the third quarter of this year and the first quarter of 2024.

NNPCL announced this on Wednesday at the on-going Nigeria Oil and Gas International Conference in Abuja.

It stated that the crude oil volumes would be produced from various oil mining licences.

The Executive Vice-President, Upstream, NNPCL, Adokiye Tombomieye, who was represented by an official of the company, Igandan Olanrewaju, said the oil firm had resumed crude oil production activities on many OMLs, adding that the wells would deliver and increase Nigeria’s oil earnings soon.

He said, “We have resumed crude oil production in earlier challenged areas like OML 29, OML 18, and OML 24, and we expect to ramp up to about 80,000 barrels around that axis with our JV partners in Q3 2023.

“First oil to tanks of about 25,000 barrels was achieved in NEPL, which is former NPDC, in Itakpe field and we expect to fully monetise that by the end of Q3, 2023. For Obodo field in OML 1, it is expected to bring about 20,000 barrels in late Q4, 2023.”

He noted that oil field development in OMLs 71 and 72 was expected to add about 20,000 to 30,000 barrels to national production possibly by late Q3, 2023.

According to him, “We have another field in First E&P OML 85, which will add about 20,000 barrels by Q1 2024. Within the deep-water space, we are concluding the Apo turnaround maintenance and that will bring about 10,000 barrels.