NNPC to increase crude oil reserves, production

THE Nigerian National Petroleum Corporation (NNPC), has embarked on fresh exploration campaigns in offshore, onshore and the inland basins of Chad, Anambra, Benue, Bida and Sokoto Dahomey to increase the country’s crude oil reserve and production.
  Specifically, NNPC expects the outcome of the programme to boost the national crude oil reserve and production to 40 billion and four million barrels per day respectively

. The Group Managing Director of the corporation, Andrew Yakubu, made this commitment while delivering a keynote address at the combined graduation ceremony of Chief Officers Management Development programme of batches 069 to 072 in Abuja.
   “We are as well carrying out infield developments which have resulted in increased reserve and with the intensified approach, including the expedited action on new projects like Egina etc the reserve and production targets is realizable,” Yakubu said.
  The GMD disclosed that over 1,000 square kilometres of seismic data have been acquired in the Chad Basin despite of the security situation in Borno State.
  Yakubu said revamping of the corporation’s critical downstream facilities such as the refineries, depots, pipelines and jetties have remained the focus of the management stressing that these spirited efforts will ensure seamless supply and distribution of petroleum products nationwide.
  He also expressed NNPC’s readiness to reinvigorate and increase the domestic consumption of the liquefied natural gas, otherwise known as cooking gas, across the length and breadth of the country.
 Yakubu noted that as part of efforts to reduce the pressure on kerosene consumption, NNPC is refocusing its strategy to encourage and aggressively grow the consumption of LPG, which provides a cleaner and cheaper energy alternative.
  “NNPC’s footprint in the domestic gas market has attained unprecedented growth. With the commissioning of the NPDC’s 100 million standard cubic feet of gas per day Oredo gas processing facilities and the acquisition of the new assets, NPDC is now the biggest producer and supplier of gas into the domestic market, contributing over 400 million standard cubic feet of gas per day,” Yakubu added.
  He stated that the Nigerian Petroleum Development Company, NPDC, is being repositioned to become a medium sized independent Exploration and Production Company with a production capacity of at least 250,000 barrels per day by the year 2015.
  According to him, NPDC assets base has grown with the assignment of new oil mining leases stressing that the management under his watch is determined to further pursue new strategies to grow production to the target of 250,000 bpd by 2015 from the current level of 130,000bpd.
  The Group Executive Director Corporate Services, Dr. Dan Efebo reiterated the determination of the NNPC to the training and retraining of the workforce saying the members of staff remain the cornerstone of any business concern.

By Roseline Okere