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https://www.premiumtimesng.com/business/business-news/244165-state-owned-npdc-now-nigerias-fifth-largest-oil-producer-official.html
The Nigerian National Petroleum Corporation, NNPC, on Monday named
its upstream oil exploration and production subsidiary, the Nigerian
Petroleum Development Company, NPDC, as the fifth largest oil producer
in Nigeria.
The NPDC Managing Director, Yusuf Matashi, said in Benin that the
company which currently produces 180,000 barrels per day, bpd, plans to
grow its equity production to 300,000 bpd by 2018; 400,000 bpd by 2019
and 500,000 bpd by 2020.
“Having attained the position as fifth largest Exploration and
Production Oil Producer in the Nigeria, due to the ongoing
transformation in NNPC, I am confident the NPDC will efficiently manage
its portfolios to achieve the new targets,” he said.
Mr. Matashi did not mention the four companies ahead of NPDC.
Industry data list Shell Petroleum Development Company, SPDC as
accounting for Nigeria’s highest oil production capacity among the joint
venture operating companies with the NNPC, over 900,000 bpd.
The others include Exonmobil Corporation, with about 600,000bpd;
Chevron Nigeria Limited, CNL, with over 400,000 bpd and Nigerian Agip
Oil Company, NAOC, with about 250,000 bpd.
The NPDC, he pointed out, controls 55 per cent equity in nine Oil
Mining Leases, OMLs in the country, namely 4, 26, 30, 34, 38, 40, 41, 42
and 55, apart from non-equity operations in three oil blocks of
selected NNPC Joint Venture fields.
Besides, there are also 60 per cent participatory interest in four
OMLs, including 60, 61, 62 and 63, in addition to 100 per cent ownership
of seven OMLs, including 11, 13, 64, 65, 66, 111 and 119.
This brings to its involvement in a total of 29 oil concessions, comprising 22 OMLs and seven Oil Prospecting leases, OPLs.
The NPDC, he said, with varied interests in seven deep-water
concessions, also successfully executed a Global Memorandum of
Understanding, GMoUs, with communities in OMLs 30 and 34.
Again, he said the company achieved a major feat recently by
successfully drilling and completing five horizontal wells in nine
months, in OML 26, leading to the production of an additional 7,000 bpd.
Other achievement included successful turnaround of OML 40 asset from
zero to 12,000 bpd to underline the company’s rising profile as the
seventh largest owner and operator of Floating Production Storage and
Offloading, FPSO in Nigeria, with FPSO Mystra having 1.03 million of
crude production capacity.
In addition, Mr. Matashi said the NPDC also carried out some
intervention activities which led to the peak production of
approximately 10,000 bpd in OML 65 in June 2017.
In the gas sector, he said the NPDC at the moment was not only the
country’s largest gas producer but also the highest supplier to the
domestic market.
“NPDC aggressive gas pursuit since 2009 has also raised its profile
as the highest single supplier of gas to the domestic market with an
average of 700 million standard cubic feet per day,” Mr. Matashi said.
“With the recent completion of the Utorogu non-Associated Gas 2
plant, about 150 million standard cubic feet of gas per day, mmscf/d
added to the system; the Oredo 2 gas plant also added 100 mmscfd, while
the successful re-entry of Odidi gas plant brought additional 40 mmscfd
of gas,” he said.
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