Nigeria targets additional 40,000bpd by Q4 2015

Despite tumbling of crude oil prices in the international
market, Nigeria is targeting an additional 40,000 barrels of
crude oil per day (bopd), the Nigerian National Petroleum
Corporation (NNPC) has said.
The 40,000bpd, according to the Group General Manager of
National Petroleum Investment Management Service (NAPIMS)
, a subsidiary of NNPC, Mr. Jonathan Okehs, is expected from
fresh project from oil multinational, Total.
Okeh, in a new year message to members of staff obtained
from the company’s website, equally stated that 57,000bpd is
expected in 2016 and another 200,000bpd in 2017 is being
expected from additional new projects.
The NAPIMS boss said despite the dire security situation in
the Chad Basin area, NAPIMS, through Frontier Exploration
Services (FES), has continued to explore the frontier areas of
Nigeria to increase oil and gas reserves.
He also raised optimism that the domestic gas market will
record tremendous growth, as gas supply is expected to
increase to over 80 million standard cubic feet per day
(mmscfd) by the first quarter of 2015. “NAPIMS has also
continued to explore for new opportunities to increase our
reserve base and daily production. Under the Production
Sharing Contract (PSC), new green fields were discovered by
some of our partners like Newcross in OPL 283 while some
others have already commenced production. Other projects
such as Ofon Phase 2 are near completion with expected
production of 40,000 bpd by Q4 of 2015.
“In July 2014, we commissioned the multi-billion dollar
Escravos Gas-to-liquid (EGTC) plant. This created over 1,500
jobs with about $4 billion projected income to the economy. In
August 2014, the multi-billion dollar Bonga North Deepwater
Project dropped its first oil and has added 50,000bpd to our
national crude production,” he said.
In pursuit of the Federal Government’s gas to power agenda,
Okeh said the corporation has maintained gas supply of three
billion standard cubic feet per day (bscfd) to the Nigerian
Liquefied Natural Gas (NLNG) and between 750 and
800mmscfd to the domestic market.
“We also ensured the supply of gas to Independent Power
Plants (IPP) thus supporting stable power supply to Nigerians
and reducing gas flares. The latest gas project, the Alakiri AG
solution, being developed by SPDC joint venture is currently
supplying 45mmscfd to the domestic market and will increase
to over 80mmscfd by the first quarter of 2015,” he added.