NNPCL hits 1.8mbod oil production, targets 2mbpf

This was made known at a press briefing on November 14, 2024, reflecting the company’s commitment to the directives of President Bola Ahmed Tinubu.The company has now set it’s eyes on  a production level of 2mbpd by the end of the year.

Mele Kyari, the Group Chief Executive Officer, NNPCL, who spoke on the development, lauded the Production War Room Team that anchored the production recovery process.

He 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.”

Giving details of the efforts of the Production War Room, Lawal Musa, the Chief War Room coordinator and Senior Business Adviser to the Group Chief Executive Officer, revealed that the feat was achieved through the collaborative efforts of Joint Venture and Production Sharing Contract partners, the Office of the National Security Adviser, and government and private security agencies.

According to him, 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 recalled that production was at 1.430mbpd, when the Production War Room team was inaugurated on June 25,  2024, adding that the team worked hard resulting in the production recovery, which hit 1.7mbpd in August and now the current 1.808mbpd in November.

Musa said: “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.”On his part, the Chairman of the NNPCL Board of Directors, Chief Pius Akinyelure, congratulated the team, saying: “today, I will leave this place with my heart full of joy”.

He charged the company’s management to come up with a cashflow projection based on the new production figures to facilitate planning, stressing that he was looking forward to further production increase to 3mbpd.

Heineken Lokpobiri, the Minister of State for Petroleum (Oil),  expressed satisfaction with the performance of the team and pledged that the Federal Government would support the company to achieve more.