Crude oil: NNPCL begins production of extra 14,000bpd

The Nigerian National Petroleum Company Limited (NNPCL) has commenced the production of 14,000 barrels per day (bpd) of crude from offshore Akpo West Field.

Spokesman of the oil giant Olufemi Soneye made this known in a statement yesterday.

According to him, the oil firm followed through thr directive by President Bola Ahmed Tinubu, to achieve the feat.

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The statement by Soneye said: “In line with President Bola Ahmed Tinubu’s directive to the Nigerian National Petroleum Company Limited (NNPC Ltd) to optimise production from the nation’s oil and gas assets, the company has announced the successful commencement of oil production from the Akpo West Field.

“The development of Akpo West which is on Petroleum Mining Lease (PML) 2 (formerly OML 130) leverages the existing Akpo Floating Production Storage and Offloading (FPSO) facility via a subsea tie-back to keep costs low and minimise greenhouse gas emissions.

“The milestone was enabled by the strategic leadership of the Group Chief Executive Officer (GCEO), Mr. Mele Kyari, and the Upstream Directorate of the NNPC Ltd whose support played no small role in propelling the operators to actualise the short- and mid-term hydrocarbon production goal of the President Tinubu administration.

“Located 135 kilometres offshore, Akpo West Field is one of the discoveries on PML 2 with proximity to the Akpo main which started up in 2009 and produced 124,000 barrels of oil equivalent per day in 2023.

“PML 2 is operated by TotalEnergies with a 24 percent interest in partnership with CNOOC (45 percent), Sapetro (15 percent), Prime 130 (16 percent), and the NNPCL as the concessionaire of the Production Sharing Contract (PSC).”

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