The Nigerian National Petroleum Company Limited (NNPCL) has announced a leap in the nation’s oil production, reaching 1.8 million barrels per day (bpd) as of November 12, 2024.
The company disclosed this during its upstream production war room meeting in Abuja on Thursday, starting that this achievement is a testament to the country’s efforts to increase its oil production and regain its position as Africa’s top crude oil producer.
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The NNPC also revealed that it is now producing 7.4 million standard cubic feet of gas to power the gas infrastructure. This, the company said, is an improvement from 6.1 mmscf earlier in the year.
Speaking at the meeting, Lawal Musa, the chief production war room officer, said with the leadership of NNPC, collaborating with the entire stakeholders, particularly its partners and the government security agencies, the private security agencies and the communities were able to move the production to active collaboration within the system and external engagement and alignment with the regulators.
“Today, the entire industry is very proud, we are grateful that we have crossed a line of 1.8 million barrels per day. This is a significant milestone. For a very long time, we have not been able to achieve this. Concurrently, we have also crossed 7.4 BCF of gas. This is monumental,” he said.
He added that the NNPC was serious about delivering greater value, and committed to delivering two million barrels by the end of the year.
He said as far back as June 25, when the war room started, crude oil production was at 1.430 bpd and by August 11, we crossed the 1.7 mark. This was the Presidential mandate that the industry must get to 1.7 million bpd.
“We are proud that even before the end of the year, as early as August, we have crossed that mark so confidently the industry has delivered on the mandate of Mr President. But that is not just enough.
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“We are confident that with this same momentum, with active collaboration, especially on the security front, we are actually seeing clear interventions, speed of recovery, and also clear delivery to market, and we can see the possibility of getting to the 2 million barrels before the end of the year,” he said.
Also speaking, Heineken Lokpobiri, minister for state, petroleum resources (oil), described the feat as remarkable, noting that NNPC Ltd has demonstrated that it has the potential to achieve and even surpass 2 million barrels per day crude oil production target for December.
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