NPDC targets 500,000 bpd production

NNPC rigCurrently, the NPDC produces about 200,000 bpd. (Image source: Shaun Undem/Pixabay)The Nigerian Petroleum Development Company (NPDC), one of the upstream subsidiaries of the Nigerian National Petroleum Corporation (NNPC), has announced to increase its daily crude oil production to 500,000 bpd before 2022

This target was announced by Dr Maikanti Baru, group managing director of the NNPC, during the inauguration of the board of directors of the company in Abuja.

Addressing the members, he disclosed that the company was currently supplying 50 per cent of the West African Gas Pipeline system gas, adding that it aims to have more gas assets, while commending the company for leaving up to expectations.

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.”

Saying that the meteoric growth the company had witnessed since 2016, Yusuf Matashi, managing director of NNPC, emphasised that 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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