The Nigerian National Petroleum Company Limited (NNPC) has announced a significant increase in its crude oil and gas production, reaching 1.8 million barrels per day (mbpd) and 7.4 billion standard cubic feet per day (scfd), respectively. This development was shared at a press briefing on Thursday and reflects the company’s ongoing efforts to meet the production targets set by President Bola Tinubu.
NNPC’s Group Chief Executive Officer, Mele Kyari, commended the Production War Room Team for their hard work in not only recovering production levels but also pushing for further growth. Kyari highlighted the team’s success in aligning production with the expectations of shareholders, the President, and the Board.
The achievement was made possible through collaboration with Joint Venture and Production Sharing Contract partners, as well as government and private security agencies, with a particular focus on securing pipelines.
When the Production War Room was launched in June 2024, production stood at 1.43mbpd. Through focused efforts, production climbed to 1.7mbpd in August and reached 1.8mbpd in November. Chief War Room Coordinator, Lawal Musa, expressed confidence that the momentum could lead to a target of 2mbpd by year-end, with continued collaboration and security improvements.
The Chairman of NNPC Ltd. Board of Directors, Chief Pius Akinyelure, expressed pride in the company’s progress, while calling for a cashflow projection based on the new production figures to aid planning. Akinyelure is also optimistic about further growth, aiming for a future production target of 3mbpd.
Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, praised the team’s efforts and reassured the company of the Federal Government’s continued support to sustain and expand its production capabilities.
Leave a Reply