Nigeria’s Crude Oil Production Projected To Hit 2 Million Mbpd By December

Following recent trends, Nigeria’s crude oil production has been projected to reach 2 million barrels per day (mbpd) by December 2024.

On Thursday, November 14, the Nigerian National Petroleum Company Limited (NNPCL) management reported that Nigeria’s crude oil production has increased to 1.8 mbpd, while gas production has risen to 7.4 billion standard cubic feet per day.

This development was commended by the Chairman of Tantita Security Services Nigeria Limited (TSSNL), Chief Government Ekpemupolo, popularly known as Tompolo.

In a communique released through his Special Adviser for Media and Public Communication, Paul Bebenimibo, Tompolo hailed the NNPCL and other stakeholders involved in achieving this milestone, including security agencies and Tantita Security Services Nigeria Limited, which is responsible for the pipeline protection contract awarded by the Federal Government to combat oil theft in the Niger Delta.

He emphasized that Tantita is dedicated to achieving the target of 2 mbpd by December 2024, as instructed by President Bola Tinubu.

He said: “This milestone, as you know, was achieved in collaboration with NNPCL, security forces and of course, Tantita, which has been at the forefront of oil pipeline protection in the Niger Delta.

“We are determined to take it to 2 mbpd before the year runs out as directed by President Bola Ahmed Tinubu.

“All the needed machinery has been put in place to ensure that the target is achieved. No effort will be spared to ensure that Nigeria’s economy is galvanised.

“This will lead to a boost in the government’s revenue, thereby making more funds available for the President and his team to run the country effectively. I assure you that we are not going to rest on our oars until the target is achieved and even exceeded.

“New technologies were being deployed to monitor the facilities with a view to ensuring that there won’t be any disruption and that the theft of Nigeria’s commonwealth is halted.

“So the 1.8mbpd that it has got to, certainly by the end of the year, by God’s grace, we will work to get it to 2 Mbps and even exceed. We are working towards that.”

Naija News recalls that in 2022, the Nigerian government awarded a contract for pipeline protection in response to rampant oil theft within the country.

Tantita, in collaboration with security agencies, spearheaded efforts to combat crude oil theft and pipeline vandalism, effectively driving oil thieves away from the nation’s coastal areas and confiscating their equipment.

Reports indicate that many oil thieves ceased their illegal activities due to the intensified operations conducted by Tantita’s personnel stationed in the coastal regions of the Niger Delta.

These joint initiatives with various state actors have played a crucial role in the recent increase in crude oil and gas production levels.

The Group Chief Executive Officer of NNPCL, Mele Kyari, recently announced a significant milestone of 1.8 million barrels per day in crude production during a press briefing on Thursday in Abuja.

He attributed this achievement to President Bola Tinubu’s directives.

Kyari also congratulated the Production War Room Team, which was instrumental in the production recovery efforts.

“The team has done a great job in driving this project of not just production recovery but also escalating production to expected levels that are in the short and long terms acceptable to our shareholders based on the mandates that we have from the President, the honourable minister, and the board,” Kyari stated.

The Chief War Room Coordinator and Senior Business Adviser to the Group’s Chief Executive Officer, Lawal Musa, provided insights into the initiatives undertaken by the Production War Room.

He emphasized that the achievement was made possible through the collaborative efforts of Joint Venture and Production Sharing Contract partners, the Office of the National Security Adviser, and various government and private security agencies.

Musa noted that the interventions responsible for the recovery of production encompassed all aspects of the production chain, with security agencies actively monitoring the pipelines.

He pointed out that upon the inauguration of the Production War Room Team on June 25, 2024, production levels were recorded at 1.430 mbpd.

Musa further stated that the team’s prompt actions led to a sustained recovery, increasing production to 1.7 mbpd in August and reaching a current level of 1.808 mbpd in November.

“We are confident that with this same momentum and with the active collaboration of all stakeholders, especially on the security front, we can see the possibility of getting to 2 mbpd by the end of the year,” Daily Post quoted Musa saying.

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