Nigeria’s state oil firm, NNPC, is ramping up oil production, reaching 1.8 million barrels per day (bpd) and aiming to hit two million bpd by the end of the year.
OPEC’s latest report estimated Nigeria’s oil production at 1.3 million bpd in October. The country, Africa’s leading crude exporter, frequently includes approximately 250,000 bpd of condensate in its production figures.
The NNPC said the increase was a result of collaborative efforts with its joint venture operators and its partners on production-sharing contracts, alongside security agencies and the government.
“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,” NNPC CEO Mele Kyari told a press briefing.
Nigeria has been battling crude theft in its Niger Delta production region, sabotage, and local unrest, which has hampered output growth.
In June, NNPC set up a ‘war room’ to coordinate efforts of oil partners, the government, and private security personnel to stem crude theft. Since then, several vessels used in stealing crude have been destroyed and some illegal refiners arrested.
Kyari credited the recovery to interventions throughout the production chain, reinforced by security agencies’ rigorous pipeline monitoring.
