Big Story, Oil Nigeria ramps up crude production amidst OPEC cuts. 3 days ago by Uzo Nzeogu 10

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Mr. Baru reeled out some of the achievements of the corporation under his watch while presenting a keynote address as the guest speaker. He said the volume of crude produced translated to an increase of 9 percent above the 2017 average of 1.86 million barrels. According to him, it is a significant improvement from the unimpressive production level recorded on assumption of office in July 2016

To underline this, the Nigeria Petroleum Development Company (NPDC) in 2018 posted production growth of 52 percent compared to 2017 (i.e from an average of 108kbod in 2017 to 165kbod in 2018),” he said.

On nationwide fuel supply, he said the corporation established a petroleum products task force that helped it achieve a steady supply of products across the country.

He said that a total of 1.2 billion liters was sold in 2018 as against 1.1 billion liters in 2017, representing a seven percent increase. This was achieved through the addition of 40 new affiliate and leased stations bringing the network to 618 stations nationwide. “NNPC Retail has also moved from loss-making to profitability,” he added.

The GMD further noted that NNPC made remarkable inroads in frontier exploration within some inland basins of the country.

He said topmost on this said was the Kolmani River-II Well which was inaugurated in February by President Muhammadu Buhari.

According to him, ” So far, our operations there are progressing satisfactorily, with drilling so far at over 10,000 feet with tremendous prospects. There was also the Chad Basin which was halted by the security situation in the area. The Basin received new vigor with the successful Spud-In of Kolmani River Well II at an elaborate ceremony by President Muhammadu Buhari.

On Gas Supply to Power In 2018, he said that the national average daily gas production stood at 7.90bscf. This, he said represented an increase of three percent above 2017 average daily gas production of 7.67bscf.

“Of the 7.90bscfd produced in 2018, an average of 3.32bscfd (42%) was supplied to the Export market, 2.5bscfd (32%) for Re-injection/Fuel Gas, 1.3bscfd (16%) was supplied to the domestic market and about 783mmscfd (10%) was flared. “Domestic gas supply capacity was marginally stable at about 1700mmscfd with an average of 1.3bscfd actually supplied to the domestic market,” he added

He noted that of the 1.3bscfd supplied to the domestic market, an average of 761mmscfd was supplied to the power sector while 470mmscfd was supplied to the industries and the balance of 69mmscfd was delivered to the West African market through the West African Gas Pipeline (WAGP).

Uzo Nzeogu

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