Nigeria’s crude oil production has risen to 2.2million barrel per day, the Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said.
Baru, who made this known at the sixth Sustainability in the Extractive Industries’ (SITEI) conference in Abuja, said, Nigeria intends building the country’s oil reserve to about 2.5mb/d and its subsidiary; the Nigerian Petroleum Development Company (NPDC), has already transformed from 15,000mb/d to 210,000mb/d.
He said NNPC has identified seven critical gas projects in order to enhance power supply and stimulate industrial growth.
Represented by the Corporation’s Chief Operating Officer, Oil and Power, Mr. Mohammed Saidu, Baru, attributed the increase in production to the peace in the Niger Delta.
He said the calmness in the Niger Delta, and renewed efforts in the Northeast, are indications that the oil firm has renewed its strength for building oil reserves.
Baru said: “Current production is building up, we are doing about 2.2 million barrels per day today, but of course, the intension is to build on that, sustain production and grow it up to about three million barrels per day in the next few years.
“We have to grow the reserves; we have had little or zero exploration for the past years, but thank God we are now renewing that. With the calmness in the Niger Delta and some of the efforts in the Northeastern region, we have now renewed our vigor towards building the reserves.
“And so in that way, we have gone back to the Benue Trough and the Chad Basin. Although the Chad Basin is slightly behind, in the sense that we were about to go back when security challenges erupted, we are just waiting for the final green light for us to go back there.
“Again all these are towards building the reserves, for is you build up the production to about 2.3 or 2.5 million barrels per day, you need the reserves to sustain that volume. The NPDC has grown production from a mere 15,000 barrels per day to about 210,000 barrels per day as at today.”