During a session at the Nigeria Oil Gas Energy Week held in Abuja, Engr. Adokiye Tombomieye,
By Johnson Atoukudu
NNPC Limited announced on Wednesday that it anticipates Nigeria’s oil production to reach 1.8 million barrels per day by the fourth quarter of this year, as the implemented measures to enhance production begin to show positive outcomes.
During a session at the Nigeria Oil Gas Energy Week held in Abuja, Engr. Adokiye Tombomieye, the Executive Vice President, Upstream, NNPC Limited, revealed the new objective. He stated that the initial goal is to attain a production level of 1.7 million barrels per day by the end of the third quarter.
Tombomieye, while delivering a presentation to a panel comprised of oil and gas industry CEOs, explained that the revised production targets would be achieved through various means, including asset integrity, increased production, well interventions, new drilling activities, alternative crude oil evacuation methods, and enhanced security measures.
Providing specific details, Tombomieye who was represented by Igandan Olanrewaju said: “We have resumed crude oil production in earlier challenged areas like OMLs 29, 18, and 24. We expect to ramp up to about 80,000bpd with our joint venture partners in Q3 2024. First oil to tank was achieved in NNPC E&P, former NPDC, OML 13 field of 25,000bpd and we expect to fully monitise that by the end of Q3 2023.
“Obodo field in OML 150 PSC is expected to bring up about 20,000bpd in late Q4 2023. Development in OMLs 71 and 72 is expected to add about 20,000 to 30,000bpd to national production by late Q3 2023.
“Within the deep water space we are concluding the Aboe turn around maintenance which will bring back about 10,000bpd, additionally within OML 130 we are opening up two injector wells and we expect that that should bring up another 10,000bpd Q3 2023”, he added.
Tombomieye emphasized that there are significant prospects in the deep-water sector, highlighting NNPC Limited’s collaboration with its partners to secure final investments for crucial major projects, such as the Bonga North field, which has the potential to contribute an additional 120,000 barrels per day to the country’s overall production.
He underscored the importance of a favorable investment environment in order to accomplish these objectives, stating that the restructured NNPC Limited provides an equitable platform for investors, ensuring a fair and competitive landscape.