The Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), announced that it has increased production of crude oil by 57,000 barrels per day, an increase which represents 52.7 percent growth in crude production by the oil company.
The Group Managing Director of NNPC, Maikanti Baru said that crude oil production by the NPDC increased from 108,000 barrels per day in 2016 to 165,000 barrels per day in 2017.
Baru revealed that with the development, the NNPC would achieve its target of 500,000 barrels per day by 2020. He said that “it is also worthy to note that NPDC’s equity production share closed at over 200,700 barrels per day, representing about 10 percent of the national daily production. Its (NPDC) the last average weekly production of 332,000 barrels per day that makes the target of 500,000 barrels per day for 2020 achievable”.
Baru added that “we will continue to pursue the growth plan to transform the NPDC to the premier upstream company in Nigeria and entire Sub-Saharan Africa”.
The NPDC which has its head office in Benin City and base warehouses in Port Harcourt and Warri for logistics support, was established in 1988. The company’s activities cover the spectrum of the upstream oil and gas business. Operations are concentrated mainly in the Niger Delta and span five States (Imo, Edo, Delta, Bayelsa and Rivers) with over 257 host communities.