The Nigerian National Petroleum Company Limited (NNPC Ltd) on Friday disclosed that it has commenced oil production at OML 85, with its Joint Venture partner, First Exploration and Petroleum Development Company Limited (First E&P).
OML 85, which is operated by First E&P is located on Madu Oil Field in shallow waters offshore Bayelsa State. It is expected to add an average of 20,000 barrels per day.
A statement by NNPC Limited Spokesman, Olufemi Soneye said the achievement “is a testament to the commitment of the President Bola Tinubu administration to optimise production from the nation’s oil and gas assets through the provision of an enabling environment for existing and prospective investors”.
Speaking on the development, the Group Chief Executive Officer of NNPC Ltd, Mr. Mele Kyari, described the commencement of oil production at the Madu Field as a significant milestone that will contribute to the larger goal of meeting the production required to drive revenue growth and boost the nation’s economy.
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Kyari, who commended stakeholders for their support, also explained that the addition of 20,000 barrels per day by an indigenous oil player signals the commitment of stakeholders to achieving economic development for Nigeria.
Soneye recalled that the Final Investment Decision on the development of the Madu Field and a sister field, Anyala, was taken by the NNPC Ltd/First E&P JV in 2018.
He explained that production from the Madu Field will be processed at the JV’s Abigail-Joseph Floating Production Storage and Offloading (FPSO) Unit, which has a crude oil storage capacity of up to 800,000bbls.
