NNPCL targets 1.8mbpd oil production by Q4 2023

The Nigeria National Petroleum Company Limited (NNPCL) has said it is projecting Nigeria’s oil production to hit 1.8 million barrels per day by the fourth quarter of this year.

The Executive Vice President, Upstream, NNPCL Engr. Adokiye Tombomieye attributed the projections to the measures being put in place by the company to boost production begin to yield results.

Speaking in Abuja during a session at Nigeria Oil Gas Energy Week, Engr.Adokiye said the target is to first hit the 1.7mbpd mark at the end of the third quarter.

Tombomieye in his presentation to a panel made of oil and gas industry chief executives said the new production targets would be achieved through asset integrity, production ramp up, well interventions, new drillings, alternative crude oil evacuation and improved security architecture.

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 noted that upstream opportunities exist in the deep water space, explaining that NNPC Limited was working with its partners to achieve final investments on key major projects including the Bonga North field that would add 120,000bpd to national production.

He stressed that to achieve these targets a conducive investment climate was needed, adding that the new NNPC Limited structure “creates a level playing ground for investors.”