. How country left 30 Year-Low Output Region with 653,000 bopd production surge – Bala Wunti
Nigeria’s oil production on Tuesday hit 1.59 million barrels per day, from 937, 000 barrels per day it was as at September.
Chief Upstream Investment Officer (CUIO), NNPC Upstream Investment Management Services (NUIMS), Bala Wunti, who declared this at the 11th Practical Nigerian Content (PNC) forum in Uyo, Akwa-Ibom state, maintained that the output increase was a result of the government’s rectangular approach to the fight against crude oil theft.
Fielding a question from Platforms Africa during a panel session on gas, Wunti maintained that crude theft “affected all the architecture that funds the country.
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“When the oil theft reached its peak, everything including gas production was affected, he said, adding, “and what the government adopted was what we called the rectangular security architecture.”
One, we have security agencies angle in which, the Navy, the Police, and everyone within that space was involved.
The secomd is the regulators angle. At this stage all regulators are made to fully be parts of the effort.
Third is the Operators angle. And, of course, all operators were involved
The fourth angle is the Community angle in which all impacted communities have to be brought under the umbrella of a structured arrangement in the collective effort against crude oil theft.
In all, this effort was able ti do three things; Detect, deter. And Respond appropriately.
“As at today, lil production is at 1.59 million barrels per day,” he told Platforms Africa.
Platforms Africa reports that the crude oil production sank to 937, 000 barrels per day in September, three months ago.
It was the first time since at least 1990 that Nigeria would beproducing that low quantity of the commodity from which the country generates majority of its foreign exchange revenue
Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) detailing production for September , showed that the fresh drilling figure was lower than theone for August which was 972,394 barrels per day.
Nigeria is dealing with unprecedented oil theft under the Muhammadu Buhari administration, hobbling the country’s ability to meet its Organisation of Petroleum Exporting Countries (OPEC)quota in the last one year.
At the September Federation Account Allocation Committee (FAAC), a Nigerian National Petroleum Company Limited (NNPC) presentation indicated that as much as 8.14 million barrels ofcrude oil were lost during the month of August.
The further decrease below the 1 million bpd mark in production inSeptember, despite months of assurances of plannedimprovement by the Nigerian authorities, is more than 10 per centcompared to the July 2022 production of 1.083 million barrels perday.
