Mele Kyari, group chief executive officer, of the Nigerian National Petroleum Company Limited (NNPC), has revealed that the state-owned oil company and its partners have revved up crude oil and gas production to 1.8million barrels per day (mbpd) and 7.4 standard cubic feet per day (scfd) in November.
This was announced by Olufemi O. Soneye, chief corporate communications officer of the NNPC, in a press statement made available to BusinessDay on Thursday.
Speaking on the development, Kyari congratulated the Production War Room Team that anchored the production recovery process.
“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,” Kyari said.
Giving details of the efforts of the Production War Room, Lawal Musa, the chief War Room coordinator and senior business adviser to the GMD, disclosed that the feat was achieved through the collaborative efforts of Joint Venture and Production Sharing Contract partners, the Office of the National Security Adviser, as well as government and private security agencies.
He said 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 stressed that when the Production War Room team was inaugurated on the June 25, 2024, production was at 1.430 mbpd, but the team swung into action, culminating in it sustaining the production recovery to 1.7 mbpd in August and hitting the current 1.808 mbpd in November.
“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 2 mbpd by the end of the year,” he stated.
Also speaking on the development, Pius Akinyelure, chairman of the NNPC Board of Directors, who also congratulated the team, said he was happy to be part of the production recovery process, noting, “Today, I will leave this place with my heart full of joy”.
He charged the company’s management to come up with a cash flow projection based on the new production figures to facilitate planning, stressing that he is looking forward to further production increase to 3mbpd.
On his part, Heineken Lokpobiri, the minister of state for petroleum (Oil), expressed satisfaction with the performance of the team and pledged the Federal Government’s support for the company to do more
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