NNPCL Achieves Record Crude Oil and Gas Production Levels
The Nigerian National Petroleum Company Limited (NNPCL) has reached a significant milestone by recording its highest crude oil and gas production levels in nearly five years. This achievement marks a major step forward in the company’s efforts to restore Nigeria’s production capacity and attract fresh investment into the energy sector.
During a recent meeting with President Bola Ahmed Tinubu at the Presidential Villa in Abuja, Group Chief Executive Officer of NNPCL, Mr. Bashir Bayo Ojulari, provided an update on the company’s performance and its investment initiatives. Ojulari highlighted that Nigeria’s crude oil production had climbed to 1.68 million barrels per day (bpd) in the previous month, a level not seen in approximately five years. This development is part of ongoing efforts to increase national output and strengthen the country’s position in the global energy market.
“Last month, we achieved a production record of 1.68 million barrels, marking a notable milestone not seen in approximately five years,” Ojulari stated.
In addition to the impressive crude oil figures, the company also achieved a new all-time high in gas production, reaching around 7 billion cubic feet (BCF) per day. This milestone is seen as a key indicator of NNPCL’s operational momentum and improved efficiency.
“Additionally, we recorded our highest gas production to date, reaching around 7 BCF per day,” Ojulari said.
According to Ojulari, these results underscore the company’s commitment to achieving national targets, which include raising crude oil production to a minimum of 2 million barrels per day by 2027 and aiming for 3 million barrels per day by 2030. He emphasized that the company is making significant strides toward these goals.
“In line with our mandate to increase production to a minimum of 2 million barrels per day by 2027 and aspiring to reach 3 million barrels per day by 2030, I am pleased to report that we are making significant strides,” he affirmed.
Ojulari expressed optimism that the positive trend would continue as NNPCL intensifies its efforts to attract new investments, deepen upstream operations, and optimize gas development across value chains.
“We remain committed to maintaining this positive trajectory and are optimistic about our continued progress,” he added.
The meeting between Ojulari and President Tinubu took place during a period of renewed global investor interest in Nigeria’s oil and gas industry. This interaction signals the government’s confidence in ongoing reforms aimed at boosting production, strengthening energy security, and positioning Nigeria as a leading hydrocarbon investment destination in Africa.
Key Highlights from NNPCL’s Performance
- Crude Oil Production: Increased to 1.68 million barrels per day, the highest level in nearly five years.
- Gas Production: Reached a record 7 billion cubic feet per day, reflecting improved operational efficiency.
- Future Targets: The company aims to raise crude oil production to 2 million barrels per day by 2027 and 3 million barrels per day by 2030.
- Investment Focus: NNPCL is working to attract new investments and optimize gas development across the value chain.
- Government Support: The meeting with President Tinubu highlights the government’s confidence in ongoing reforms and Nigeria’s potential as a key player in the African energy sector.
