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NNPCL Targets 2m Bpd Production In 2024

THE Nigerian National Petroleum Company Ltd, NNPCL, yesterday, said that for the company to achieve its target of producing two million barrels per day from 2024, the nation’s security architecture has to be overhauled.

NNPCL also assured that it would make oil and gas company to sustain the nation’s economy.

The nation currently produces 1.67 million barrels of oil and condensates as against the two million barrels per day target set by the Organisation of Petroleum Exporting Countries, OPEC.

The Non-Executive Chairman of the board, Pius Akinyelure, stated this after it was inaugurated by President Bola Tinubu at the presidential villa, Abuja.

Briefing State House correspondents after the inauguration, Akinyelure said: “Our commitment is to produce at a rate of two million barrels per day, anytime from next year.

He lamented that the target could not be realised without first overhauling the security architecture of the country to address pipeline vandalism and other mechanisms deployed in oil theft.

According to him, “It is not an easy task, but we know we have the challenge of oil stealing, the vandalization of our pipelines.

“But to do this, we have to overhaul our security architecture so that the incidences of stealing, vandalisation of pipelines can be reduced.

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“And this will possibly help build up our cash flow. And we will become a better nation.

The board chairman said that the company would implement key performance indicators of the oil industry to enable the country to “become number one in Africa and probably compete with leading oil and gas companies around the world.

Speaking in an interview, the only female member on the NNPCL board Dr. Eunice Thomas (Akwa Ibom) assured that they would work together to increase productivity, improve the economy and create sustainable green energy.

Source: Vanguard

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