By Adedapo Adesanya
The Nigerian National Petroleum Company (NNPC) Limited-First Exploration & Production (E&P) Joint Venture, operating the Abigail Joseph Floating Production Storage and Offloading (FPSO) facility on Oil Mining License (OML) 83/85 offshore Bayelsa, has announced a target of 100,000 barrels per day of crude oil production by 2025.
The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, while speaking during a recent inspection of the facility, disclosed that the facility currently produces 60,000 barrels per day.
He praised the ongoing drilling campaign led by First E&P, which aims to add 23 new oil wells to the country’s production base.
“This is a clear example of how collaboration between NNPCL and indigenous companies can drive growth in Nigeria’s energy sector. The ongoing reforms are unlocking opportunities that will enhance our national oil production and contribute to our economic development,” the Minister stated.
While celebrating the progress of the JV, the minister acknowledged the important role of reforms in the sector.
“These productive outputs are a direct result of the ongoing reforms in Nigeria’s oil sector. They are unlocking significant opportunities for growth. I encourage other indigenous companies to leverage these opportunities and replicate this success,” he added.
Mr Lokpobiri also emphasized the importance of indigenous companies playing a central role in the country’s energy future.
“Together, we can contribute to the continued growth of Nigeria’s oil industry and further enhance national productivity,” he said, underscoring the strategic importance of local participation in the sector.