• Monday, June 24, 2024
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NNPC, NOS hit first oil in OML13, eye 40,000bpd

Bureaucracy crimps oil sector as 20 federal agencies stifle operators

The Nigerian National Petroleum Company Exploration and Production Limited (NNPC E&P Ltd), an upstream subsidiary of NNPC and Natural Oilfield Services Ltd (NOSL), a subsidiary of Sterling Oil Exploration & Energy Production Company Ltd (SEEPCO), have announced the successful commencement of oil production at Oil Mining Lease (OML) 13 in Akwa Ibom State.

Read also: NNPC Secures $3.15bn Financing for OML 13 to spike crude reserve

NNPC in a statement signed by Olufemi Soneye, the Chief Corporate Communications Officer on Sunday disclosed that the production, which commenced on the 6th of May 2024 with 6,000 barrels of oil is expected to be ramped up to 40,000 barrels per day by May 27, 2024.

“The first oil flow from OML 13 is a historic milestone in the partnership between NNPC E&P Ltd and NOSL, highlighting their dedication to driving growth and development in Nigeria’s oil and gas sector, which remains a vital component of the nation’s economy.

“The achievement does not only signify the culmination of rigorous planning and execution by the teams involved, but also represents a new era of economic empowerment and development opportunities for the host communities,” he said.

Soneye explained that for Nigeria, the first oil from OML 13 holds some significance as it contributes to the country’s efforts to increase its oil production capacity, which is crucial for meeting domestic energy needs and driving economic growth.

Read also: NNPC raising $3.3bn from OML 13 to fund cash call arrears

“The NNPC E&P Ltd and NOSL partnership is also committed to operating in a manner that is safe, environmentally responsible, and beneficial to the local communities,” he said.