NNPCL, Partner Expect 12,000bpd Oil Output From Awoba Field By May

PLACE YOUR ADVERT HERE

The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its Joint Venture partner in the Awoba Unit Field, Newcross Exploration and Production Ltd., have resumed production crude oil in Awoba Field, River State.

The NNPCL Ltd said the field last contributed production to the Bonny Terminal in 2021 and was finally shut down in February 2022 due to evacuation issues and crude oil theft, has been averaging 8,000 barrels per day, and production is expected to ramp up to 12,000 barrels per day within the next 30 days.

The NNPCL noted that the field, restarted on April 13, 2024, the Awoba field is also expected to significantly boost gas supply to the power sector and other gas-based industries and optimise production from the nation’s hydrocarbon assets to boost revenues and meet the nation’s OPEC production quota, according to a release signed by its spokesman, Olufemi Soneye.

The Awoba Unit which straddles OMLs 18 and 24 is located in the mangrove swamp south of Port Harcourt, Rivers State.

Both OML 18 and OML 24 assets are under the management of the NNPC Upstream Investment Management Services (NUIMS).

NNPC Ltd has been recording a string of production successes from the JV portfolio which have significantly lifted overall national production. Besides the recent start of production at the Madu Field by the NNPC Ltd/First E&P JV, the company has achieved the restart of production at OMLs 29 and OML 18 in late 2023 which have steadily contributed an average of 60,000bpd to the nation’s production output since their restart.

Speaking on the development, Mele Kyari, the group chief executive officer, ascribed the achievement to the President Bola Ahmed Tinubu administration’s success in providing an enabling operating environment for businesses to thrive.

He showed appreciation to all stakeholders (staff, operators, host communities, government security agencies, and private security contractors) who played a pivotal role in achieving the feat.

PLACE YOUR ADVERT HERE

Popular Related

PH refinery: Marketers eye fuel price reduction, ready to load

The Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Major Energy Marketers Association of Nigeria (MEMAN) have projected a marginal decreased in the...

FG announces only 1million applicants will be receiving N50,000 grant

Only one million of the 3.6 million applications for the Presidential Conditional Grant Scheme will receive funding, according to a statement released on Thursday...

Sanwo-Olu advocates public sector collaboration

In an act to foster development in the country, Babajide Sanwo-Olu, the Lagos State Governor, has urged for synergy in the public sector for...

Tinubu hailed for Ikorodu-Epe road rehabilitation

Following the swift intervention of the Federal Government into the rehabilitation of the Ikorodu-Imota-Itoikin-Epe road, Lagos based businessman, Dr. Oladega Adebogun has expressed appreciation...

Group demands Ganduje resignation as they stage protest at APC national secretariat

Hundreds of protestors stormed the All Progressives Congress national secretariat in Abuja on Thursday, demanding the resignation of Dr. Abdullahi Ganduje, the party's national...

Govt palliative worsening food inflation, says Cardoso

Olayemi Cardoso, the Governor of the Central Bank of Nigeria, has said that the high cost of foodstuff is caused by the government as...

Investors lose N252bn on bearish equity trading

As stated by the Nigerian Exchange, stock investors loss hit N252bn After Easter holidays, the market lost about N467bn between Tuesday and Thursday. The bearish trend...

APC chieftains in Bayelsa warns Tinubu against making alliances with Douye Diri

President Bola Ahmed Tinubu has been warned by the Stakeholders Forum of the All Progressives Congress in Bayelsa State "to be wary of any...

NDIC raises deposit insurance coverage by 900%

The Nigeria Deposit Insurance Corporation (NDIC) has increased maximum deposit insurance coverage of Deposit Money Banks (DMBs) and Mobile Money Operators (MMOs) by 900...

FG directs banks to deduct stamp duty charges on mortgages

Following the economical crisis and level of hardship in the country, the Federal Government has urged Deposit Money Banks to start the decrease of...