NNPC targets two million barrels oil production daily

The Nigerian National Petroleum Company Limited has announced its goal to increase crude oil production to two million barrels per day by the end of the year.

The country’s daily production rose from 1.27 million barrels in June to 1.6 million in July, according to the Nigerian Upstream Petroleum Regulatory Commission.

Speaking during a meeting with Maritime Stakeholders at the Nigerian Navy Headquarters on Tuesday, the Group Managing Director of NNPC, Mele Kyari, expressed optimism that the target would be met, emphasising that NNPC was fully committed to achieving it.

Represented by the Managing Director of Pipeline NNPC, Folorunsho Karim, the oil firm’s boss urged security agencies to continue their efforts against oil theft and pipeline vandalism to help the company meet its target.

He said, “The target is to increase production to two million barrels by the end of the year, and we are fully committed to doing that. I appreciate the support of the Nigerian Navy in making this possible.

“They have been providing significant support, which has resulted in a reduction in oil theft. Pipeline vandalism has also decreased significantly, and there is a lot currently happening in the industry. We hope to sustain this progress to achieve our target of two million barrels per day by the end of the year.”

The Chief of the Naval Staff, Vice Admiral Emmanuel Ogalla, said Nigeria’s development has faced numerous complex security challenges over the past few decades, including violent agitations, oil theft, pipeline vandalism, and piracy/sea robbery.

Ogalla added that these issues were driven by the proliferation of small arms and light weapons, communal clashes, poverty, and unemployment.

“The traditional methods of addressing these security challenges have not yielded the desired results. Hence, the meeting also aimed to address emerging security issues arising from the implementation of the Petroleum Industry Act.

“The Federal Government’s drive to develop the nation’s blue economy requires the support of all stakeholders,” he added.

He stated that the Navy was working to ensure its operations did not hinder operators but instead supported them in performing their duties and optimally producing.

Ogalla said, “Providing security is a way to promote ease of doing business because if there is no security, operators cannot function.

“We also ensure that our arrests and detentions do not impede legitimate business operators. When we make arrests, we conduct preliminary investigations quickly and release vessels if the information is found to be incorrect, so as not to disrupt businesses. This is our general contribution.

“We aim to promote ease of doing business by ensuring our operations and patrols do not create problems for operators. Instead, we support them by assuring them of protection from criminal elements who seek to disrupt business activities in Nigeria.”