ABUJA, Nov. 18 (AGCNewsNet) – Nigeria’s crude oil production has climbed to 1.8 million barrels per day (MMbd) this month, with the Nigerian National Petroleum Company (NNPC) Ltd. projecting a potential rise to 2 MMbd by the end of 2024. The nation’s natural gas output has also increased to 7.4 billion cubic feet per day. 

NNPC’s Chief Executive Mele Kyari attributed the milestone to the "Production War Room" initiative, launched in June to enhance recovery and escalate output. "This team has driven production recovery and scaled output to levels that are acceptable to our shareholders," Kyari stated, highlighting the role of security measures in curbing pipeline thefts. 

The increase comes amid major energy companies like Shell PLC, ExxonMobil, and TotalEnergies divesting from onshore operations in Nigeria. However, Kyari remains optimistic, saying, “With continued stakeholder collaboration, especially on security, we can achieve two MMbd by year-end.” 

NNPC Board Chair Pius Akinyelure announced long-term plans to scale national petroleum production to 3 MMbd. This includes a new agreement with the Dangote Refinery for a decade-long supply of 100 million cubic feet of natural gas per day, with potential for expansion. 

Earlier this year, NNPC ramped up operations in the Niger Delta, bringing online key projects such as Oil Mining Lease (OML) 13, which now produces 6,000 barrels per day (bpd), with plans to reach 40,000 bpd. Similarly, the Madu and Awoba fields have added a combined 32,000 bpd to the nation’s output capacity. 

NNPC has converted its licenses under the Petroleum Industry Act (PIA), which provides more favorable terms compared to the previous Petroleum Profit Tax Act. This move, in collaboration with Chevron, is expected to boost crude production through restructured operations in five Oil Mining Licenses. 

NNPC emphasized the importance of these reforms, calling the PIA terms "more investor-friendly," and a vital step towards sustaining and expanding Nigeria's hydrocarbon production.