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[Nigeria] NPDC targets 500,000 barrels of crude oil per day production |
The Nigerian Petroleum Development Company
(NPDC), one of the upstream subsidiaries of the Nigerian National
Petroleum Corporation (NNPC), will increase its daily crude oil
production to 500,000 barrels per day before 2022.
This target was announced by the Group
Managing Director of the NNPC, Dr. Maikanti Baru, during the
inauguration of the board of directors of the company in Abuja.
Addressing the members, the GMD who also
doubles as Chairman of the board charged them to grow the company’s
assets and ensure that the 500,000 barrels per day crude oil production
target is met by 2022”.
He disclosed that the company was currently
supplying 50 per cent of the West African Gas Pipeline system gas,
adding that it was the in thing to have more gas assets, while
commending the company for leaving up to expectations.
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Dr. Baru directed that NPDC’s Memorandum of
Understanding (MOUs) with host communities should be tied to the
availability of the lines saying “as stakeholders, they share in both
our success and losses as well”.
Also speaking at the event, Managing
Director of the company, Mr. Yusuf Matashi, said from the meteoric
growth the company had witnessed since 2016, the GMD’s target of 500,000
barrels per day was realisable by 2022.
He said the board came at an appropriate
time as it would address issues of processes and procedures necessary to
drive a major oil company like the NPDC, while assuring it of the
commitment of the company to the growth target.
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The NPDC currently produces about 200,000
barrels per day and going by its work programme, it will increase to
300,000 barrels per day this year.
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