NNPC Aims to Boost Oil Production to Two Million Barrels Per Day by Year-End.
The Nigerian National Petroleum Company Limited (NNPC) has set an ambitious target to raise the country’s crude oil production to two million barrels per day by the end of this year. This goal comes after the nation’s daily oil output saw a significant increase, climbing from 1.27 million barrels in June to 1.6 million barrels in July, according to the Nigerian Upstream Petroleum Regulatory Commission.
During a meeting with maritime stakeholders at the Nigerian Navy Headquarters on Tuesday, NNPC‘s Group Managing Director, Mele Kyari, expressed confidence in reaching this target. Represented by the Managing Director of Pipeline NNPC, Folorunsho Karim, Kyari emphasized the company’s commitment to achieving the goal and acknowledged the crucial role of security agencies in combating oil theft and pipeline vandalism.
“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,” Kyari stated. He noted that the Navy’s efforts have significantly reduced oil theft and pipeline vandalism, which are key factors in sustaining the current progress toward the production target.
Vice Admiral Emmanuel Ogalla, the Chief of the Naval Staff, highlighted the complex security challenges Nigeria has faced over the years, including oil theft, pipeline vandalism, and piracy. He pointed out that these issues are compounded by the proliferation of small arms, communal clashes, poverty, and unemployment.
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Ogalla noted that traditional methods of addressing these security challenges have not been entirely successful. The meeting also focused on addressing emerging security concerns related to the implementation of the Petroleum Industry Act, with the Federal Government’s push to develop the nation’s blue economy requiring the support of all stakeholders.
He assured that the Navy is working to ensure its operations do not hinder business activities but rather support them, enabling operators to perform their duties efficiently. “Providing security is a way to promote ease of doing business because if there is no security, operators cannot function,” Ogalla stated. He also emphasized that the Navy conducts prompt investigations following arrests to avoid unnecessary disruptions to legitimate business operations, thereby promoting a secure and business-friendly environment in Nigeria.
