The Nigerian National Petroleum Company Limited (NNPCL) says it has achieved 1.8 million barrels per day crude oil production (mbpd) following the continuous dislodgement of pipeline vandals and crude oil thieves in the country.
The Chief War Room Coordinator of NNPCL, Lawal Musa, disclosed this at a press briefing in Abuja on Thursday, November 14, 2024.
Musa, who is also the Senior Business Adviser to the Group Chief Executive Officer of NNPCL, Mele Kyari, said the achievement was based on the collaboration between NNPCL’s leadership, stakeholders, and security agencies.
Musa said: “We achieved this because of the clear mandate by President Bola Tinubu to ramp up crude oil production in the country.
“This increase in production came as a result of coordinated security intervention, private security network and Joint Venture and Production Sharing Contract partners’ collaboration.”
He stated that the production level was at 1.4mbpd as of June 25, 2024, when the war room started, saying the company crossed 1.7mbpd on August 11 and exceeded 1.8mbpd on November 12.
Musa said: “However, we are charged with the clear directive of the GCEO; this is a clear value-driven target achieved. Confidently, the industry has delivered on the presidential mandate to achieve 1.7mbpd.
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“The NNPCL is committed to increasing production to two million barrels by year-end, with 1.8 million barrels, aligned with the government budget.
“We are confident that with the same momentum, active collaboration, intervention and speedy recovery, we will get to two million barrels production.
“The NNPCL exceeded 7.4 billion standard cubic feet daily (bscfd) of gas production on November 11 in line with the 2024 target. As of June 25, gas production was at 6.1bscfd.”
In his remarks, Kyari commended the NNPCL’s production war room team members for recovering the production from low levels.
“We have to progress to this level by ensuring that we escalate our current production to levels that are acceptable to our shareholders based on the mandates that we have from the president,” the NNPCL boss said.
Also speaking on the development, the NNPCL Chairman of the Board of Directors, Pius Akinyelure, who also congratulated the team, expressed satisfaction for being part of the production recovery process.
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