The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced a significant milestone in its crude oil and gas output, reporting a production rate of 1.8 million barrels per day (mbpd) and 7.4 billion standard cubic feet per day (scfd) of gas. This achievement, NNPC says, is in line with the mandate from President Bola Ahmed Tinubu to increase oil production and bolster the nation’s energy security and economic growth.
During a press briefing on Thursday, NNPC’s Group Chief Executive Officer, Mr. Mele Kyari, lauded the efforts of the Production War Room Team, which has spearheaded the company’s production recovery initiatives. “The team has done a remarkable job, not only in stabilizing production but also in achieving new output levels that align with the expectations of our shareholders and the directives of the President, Honourable Minister, and NNPC’s Board,” Kyari stated.
Chief War Room Coordinator and Senior Business Adviser to the Group CEO, Mr. Lawal Musa, detailed the collaborative efforts behind this accomplishment. According to Musa, the team’s success was bolstered by close partnerships with Joint Venture and Production Sharing Contract (PSC) partners, as well as support from the Office of the National Security Adviser and both government and private security agencies. Security measures, particularly the monitoring of critical pipeline infrastructure, played a pivotal role in the sustained output.
“When the Production War Room team was launched on June 25, 2024, production levels were at 1.430 mbpd,” Musa explained. “With coordinated efforts and swift action, we boosted production to 1.7 mbpd by August and recently surpassed 1.808 mbpd in November. We are confident that with continued stakeholder collaboration, especially regarding security, we will reach our goal of 2 mbpd by the end of the year.”
NNPC Ltd. Board Chairman, Chief Pius Akinyelure, also extended his congratulations, expressing pride in the company’s progress. “Today, I leave with a heart full of joy,” Akinyelure said, urging the management to develop a cash flow projection based on the updated production levels. He further encouraged the team to aim even higher, with a long-term vision of reaching 3 mbpd.
Echoing this optimism, the Honourable Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, commended the Production War Room’s achievements. Lokpobiri reassured NNPC Ltd. of the Federal Government’s continued support as the company strives to enhance production further, reinforcing the government’s commitment to sustaining Nigeria’s energy sector as a cornerstone of the national economy.
With its sights set on the 2 mbpd target, NNPC Ltd.’s recent advancements underline Nigeria’s drive to solidify its position as a leading oil-producing nation, contributing to both domestic growth and global energy stability.
