NNPCL mulls 3mbpd crude oil production
The Nigerian National Petroleum Company Limited has expressed confidence in its ability to increase crude oil production from 1.7 million to three million barrels per day.This was revealed by NNPCL's Chief Corporate Communications Officer, Olufemi Soneye, during a stakeholder engagement session with journalists covering the National Assembly on Saturday, according to The Punch.
He attributed the potential increase in oil production to President Bola Tinubu's political will.
He has directed security agencies to step up their efforts against oil theft and pipeline vandalism, both of which pose significant challenges to the industry.
These measures aim to improve security and operational stability, allowing for increased production levels.
According to Soneye, recent efforts to combat oil theft and improve security have resulted in a daily increase in oil production of 1.4 million to 1.7 million barrels.
"Three million barrels of oil production per day is achievable in Nigeria if all stakeholders work in synergy—from government and private security agencies to oil companies and host communities," says Soneye.
He emphasized that a joint effort to combat oil theft and pipeline vandalism could create an enabling environment, allowing for optimal oil production levels of 2.5 to 3 million barrels per day.
Soneye noted that oil production had once dropped to 900,000 barrels per day, emphasizing the importance of private security agencies and renewed military efforts in combating oil theft and vandalism.
"At that time, we felt Nigeria was in trouble regarding oil theft, but the intensified fight against it has alleviated our concerns," said the governor.
During the session, Murtala Muhammad, Deputy Manager at the NNPC Command and Control Centre, delivered a PowerPoint presentation on the ongoing issue of crude oil theft and its economic impact on Nigeria.
He reported the discovery and destruction of over 8,000 illegal refineries and 5,800 illegal oil pipeline connections in the previous six months.
Bayelsa, Rivers, Imo, and Abia have been identified as hotspots for this criminal activity, emphasizing the ongoing challenges of securing Nigeria's oil infrastructure.
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