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The Nigerian National Petroleum Company Limited, NNPCL, has announced its target to increase crude oil production to two million barrels per day by the end of year 2024.

Recall that the nation’s daily production rose from 1.27 million barrels in June to 1.6 million in July, according to the Nigerian Upstream Petroleum Regulatory Commission.

This was contained in a speech by the NNPCL, Group Managing Director, Mele Kyari at the meeting with Maritime Stakeholders at the Nigerian Navy Headquarters on Tuesday. Kyari expressed optimism that the target would be met. He, therefore, emphasized that NNPC was fully committed to achieving the target.

The GMD, who was represented by the Managing Director of Pipeline NNPC, Folorunsho Karim, therefore, urged security agencies to continue their efforts against oil theft and pipeline vandalism. He noted that this would help the company meet its target.

“The target is to increase production to two million barrels by the end of the year, and we are fully committed to doing that. I appreciate the support of the Nigerian Navy in making this possible.

“They have been providing significant support, which has resulted in a reduction in oil theft. Pipeline vandalism has also decreased significantly. And there is a lot currently happening in the industry. We hope to sustain this progress to achieve our target of two million barrels per day by the end of the year.”

In his speech, the Chief of the Naval Staff, Vice Admiral Emmanuel Ogalla, expressed optimism at the efforts of the security agencies. He pointed that Nigeria’s development has faced numerous complex security challenges over the past few decades. Which include violent agitations, oil theft, pipeline vandalism, and piracy/sea robbery.

Ogalla added that these issues were driven by the proliferation of small arms and light weapons. He also citied communal clashes, poverty, and unemployment as issues in the fight.

He said, “The traditional methods of addressing these security challenges have not yielded the desired results. Hence, the meeting also aimed to address emerging security issues arising from the implementation of the Petroleum Industry Act.

“The Federal Government’s drive to develop the nation’s blue economy requires the support of all stakeholders.”

Ogalla noted that the Navy was working to ensure its operations did not hinder operators. But instead supported them in performing their duties and optimally producing.

He said, “Providing security is a way to promote ease of doing business. Because if there is no security, operators cannot function.

“We also ensure that our arrests and detentions do not impede legitimate business operators. When we make arrests, we conduct preliminary investigations quickly. And release vessels if the information is found to be incorrect, so as not to disrupt businesses. This is our general contribution.

“We aim to promote ease of doing business by ensuring our operations and patrols do not create problems for operators. Instead, we support them by assuring them of protection from criminal elements who seek to disrupt business activities in Nigeria,” he said.

 

 

 

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