The Nigerian National Petroleum Company Limited (NNPCL) has successfully reached a significant milestone, achieving 1.8 million barrels per day (bpd) in crude oil production. This achievement reflects the hard work and dedication of the NNPCL team over recent weeks.
At a press briefing in Abuja, the company’s board chairman, Chief Pius Akinyelure, expressed his satisfaction with the milestone and called for an ambitious target of 3 million bpd by December 2024. “This is just the beginning, and we should continue to improve on this production,” he stated.
Musa said “congratulations on exceeding 1.8mbopd ! This accomplishment reflects the dedication of all teams over the past weeks. Moving forward let’s build on this momentum and push towards our 2 MB/d by year end.”
He said the NNPCL contributed 80 per cent of the production figure.
Responding, Akinyelure commended the management team of the NNPCL on increasing production to 1.8mb/d.
He said he was elated due to the economic impact the production would have on the company’s cash flow of operating income from now to year end.
Akinyelure urged the state-owned oil firm to consider the 1.8mb/d as a base of the landmarks it should improve on.
The board chairman, who charged NNPCL not to fall below the present production figure, asked it to plan for the attainment of 3mb/d in December.
His words: “It is a matter of great pleasure to be here today to be part of this successful display of the success of the management team increasing our production to 1.8mb.
“I am very happy because we know the economic impact it will generate to our income and at this point I will also like the management to give us a cash flow of operating income between now and December.
“This is just the beginning we want to see more landmarks accomplishments at this level.
“The rule is we should make sure we do not fall below this level. I am hoping that by December you should be talking of about 3mb/d. Let it be a plan.”
Kyari extolled the War Room team that recovered the nation’s oil production from its low level of 21st June, 2024.
He said that NNPCL will not only recover production, it will raise it to the expected level.
He said President Ahmed Tinubu has mandated the company to raise production to a level that is acceptable to the shareholders in the short and long term.
Kyari insisted that it is possible to attain the 2mb/d with the support of the board, ministers, and security agencies.
Tantita Security Services has upped its game recently resulting in arrest of numerous crude oil thieves and pipeline vandals in the Niger Delta region.
The private security firm alongside government security agencies were in the past week responsible for the uncovering of 15 illegal pipeline connections and 68 illegal refineries.
But speaking, the Minister of State for Petroleum Resources (Oil), said he was excited that Kyari has been able to deliver that we set up a war room to ramping up production.
He tasked NNPCL strive to achieve 2.5mb/d in December as it did during the COVID 19.
Stakeholders have lauded the invaluable role of Tantita Security Services Nigeria Limited, a critical partner in safeguarding Nigeria’s oil assets. Tantita, led by High Chief Government Oweizide Ekpemupolo, aka Tompolo, has been instrumental in curbing oil theft and pipeline vandalism, which have previously hindered production. Through Tompolo’s leadership, Tantita has deployed cutting-edge surveillance technology, established rapid-response teams, and engaged with local communities to create sustainable solutions for pipeline security.
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