NNPCL Disclose Plans to Boost Crude Oil Production to 3 Million Barrels Per Day.
In a significant announcement, the Nigerian National Petroleum Company Limited (NNPCL) has unveiled plans to substantially increase crude oil production from the current 1.6 million barrels per day (BPD) to an impressive 3 million BPD. This ambitious objective was revealed by the NNPCL Group Chief Executive Officer, Mele Kyari, during the Strategic Women In Energy, Oil And Gas (WEOG) Leadership Summit held at the Petroleum Technology Trust Fund (PTDF) auditorium in Abuja.
Themed “Investment in Women For Accelerated Progress,” the summit focused on advocating for gender equity in the oil and gas sector while acknowledging industry pioneers. Kyari underscored the importance of investing in women and rectifying their underrepresentation in the energy sector, noting that women presently constitute 18.6% of the NNPCL workforce and 23.1% of its leadership.
Kyari outlined a comprehensive vision for the NNPCL‘s future, which includes expanding Nigeria’s crude oil refining capacity to over one million barrels per day and bolstering the company’s renewable energy portfolio. Additionally, the state-owned company aims to augment its retail network to over 1,500 stations across sub-Saharan Africa and optimize dividend payouts to shareholders.
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He articulated, “Looking ahead to the next decade, we envision a Nigeria propelled by the oil and gas industry: monetization of our vast 203 trillion cubic feet gas resources, increasing crude oil production to 3 mbpd, raising domestic refining capacity to over 1 mbpd, expanding our retail network to over 1,500 stations across sub-Saharan Africa, growing our renewable energy portfolio, and optimizing dividend pay-outs to our shareholders.”
Kyari emphasized that realizing these ambitious targets necessitates a multifaceted approach, with a strong emphasis on investing in women and addressing the challenges they encounter across different workforce tiers. He highlighted initiatives such as coaching, mentoring, and promoting flexible work arrangements to unlock the full potential of women in the industry.
The announcement underscores NNPCL’s commitment to propelling growth and innovation in Nigeria’s energy sector while championing gender inclusivity and empowerment.
