Nigeria’s state oil company NNPC says it had increased its oil production to 1.8 million barrels per day, with the potential to rise to 2 million barrels per day by the end of the year.
Oil production in Africa’s largest crude exporter was estimated at 1.3 million barrels per day in October, according to the latest figures from producer group OPEC. Nigeria’s condensate production is usually around 250,000 barrels per day.
NNPC said the development was the result of collaboration with its joint venture partners, joint venture partners as well as security agencies and the government.
“The team has done a great job in driving this project of not just production recovery but also escalating production to expected levels that are in the short and long terms acceptable to our shareholders,” NNPC CEO Mele Kyari told a press briefing.
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Nigeria is struggling with theft, violence and regional conflicts that are holding back productivity growth in the Niger Delta region.
In June, the NNPC set up a “war room” to coordinate between oil partners, government and private security agencies to prevent oil theft. Since then, several boats used to steal oil have been destroyed and some illegal workers have been arrested.
Kyari said intervention at all points in the production chain, supported by strict monitoring of pipelines by security agencies, was essential for recovery.
