New NNPC/First E&P Floating Storage Facility To Boost Oil Output By 60,000bpd

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has said Nigeria’s crude oil output would be boosted by 60,000 barrels per day (bpd) with new NNPC/First E&P storage facility.

Senator Heineken Lokpobiri said with the new Floating Production Storage and Offloading (FPSO) facility, operated by the Nigerian National Petroleum Company Limited (NNPC) and First E&P Joint Venture (JV) on OML 83/85, known as ‘Abigail Joseph’, Nigeria’s crude oil output target has gotten a new boost.

Senator Lokpobiri stated this on Wednesday, during an inspection of the facility in Bayelsa State.

A statement from Lokpobiri’s spokesperson, Nneamaka Okafor, said the Minister applauded the facility’s progress and its ambitious production goals.

Currently producing 60,000 barrels per day, the FPSO, Lokpobiri explained, was on track to achieving 70,000 bpd in the near term, with plans to scale up to 100,000 bpd in the near future.

“It is impressive to see such commitment from NNPC and First E&P, especially as First E&P pursues a 23-well drilling campaign to sustain and enhance output. This is a vital step toward achieving our national production targets,” he said.

Lokpobiri lauded the role of joint ventures like the NNPC-First E&P partnership in driving growth within Nigeria’s oil sector, urging other indigenous operators to leverage the opportunities presented by ongoing reforms to further the country’s energy objectives.

“The Abigail Joseph FPSO stands is a symbol of progress and collaboration in Nigeria’s oil industry, demonstrating the transformative potential of indigenous-led partnerships and innovation in unlocking hydrocarbon wealth. With sustained efforts and strategic investments, the NNPC-First E&P Joint Venture is well-positioned to make significant contributions to the nation’s oil production capacity,” he added.

Lokpobiri emphasized the strategic importance of the facility, stating that the ongoing work reflects the collective efforts to increase Nigeria’s crude production.

In his remarks, the managing director and chief executive of First E&P Limited, Ademola Adeyemi-Bero reaffirmed the company’s dedication to delivering results.

“We are fully committed to meeting and surpassing our current production goals. With the support of our partners and ongoing de-bottlenecking initiatives, we are confident of achieving 70,000 bpd and eventually 100,000 bpd in record time.

“This project underscores the capability of indigenous companies to deliver on ambitious targets,” Adeyemi-Bero noted.

Also speaking, the chief upstream investment officer (CUIO) of NNPC Upstream Investment Management Services (NUIMS), Bala Wunti, assured the minister of the joint venture’s alignment with national objectives.

“The milestones achieved here at Abigail Joseph FPSO are a testament to NNPC’s determination to deliver results through strategic partnerships and innovative approaches.

“With the stir of the group chief executive, we are committed to meeting the minister’s directive to ramp up production in no distant time,” Wunti said.