Abuja, Nov. 14, 2024 -The Nigerian National Petroleum Company Limited (NNPCL) says it is now targeting a crude oil production target of two million barrels per day (mbpd) before the end of 2024.
It said it had already achieved crude oil and gas production rate of 1.8 million barrels per day (mbpd) and 7.4 standard cubic feet per day (scfd), respectively.
Mele Kyari, the Group Chief Executive, announced this at a press briefing in Abuja on Thursday.
He said the feat was achieved in compliance with the mandate of the president and also congratulated the NNPCL Production War Room Team for this.
Kyari said: “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.”
Lawal Musa, the Chief War Room Coordinator and Senior Business Adviser to the Group Chief Executive Officer, said the feat was achieved through the collaboration of Joint Venture and Production Sharing Contract partners, the Office of the National Security Adviser, as well as government and private security agencies.
He 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 said the Production War Room team was inaugurated on June 25, 2024 when production was at 1.430mbpd, but when it 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.”
Chief Pius Akinyelure, the Chairman of the NNPCL Board, also congratulated the team.
He 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”. (GBN)
