Mr. Andy Yakubu, NNPC MD
The Nigerian Petroleum Development Company (NPDC), the crude oil and gas-producing subsidiary of the Nigerian National Petroleum Corporation (NNPC) has attained a production capacity of 130,000barrels per day (bpd).
Speaking at the just-concluded Lagos International Trade Fair, the Group Managing Director of NNPC, Mr. Andy Yakubu, enumerated the factors responsible for the improvement in NPDC’s production capacity, to include the sustained amnesty programme of the Federal Government and the re-entry into the previously abandoned assets and facilities by the NPDC.
Yakubu said with the return of peace in the oil-producing Niger Delta due to the amnesty programme, the NPDC re-entered abandoned oil fields and resumed production.
“This has positively impacted on the NPDC’s growth aspiration with current crude oil production now averaging about 130,000barrels per day,” he said.
Yakubu was represented at the event by the Managing Director of the National Engineering and Technical Company Limited (NETCO), a wholly-owned subsidiary of the NNPC, Mr. Ishaku Abdullahi.
The NNPC boss noted that abandoned assets of the NNPC/Shell Joint Venture had also been reactivated and production ramped up on the divested Shell’s assets.
He disclosed that the NNPC was also implementing a robust programme aimed at drastically reducing the development costs of both joint venture and Production Sharing Contract (PSC) projects in order to increase government take from oil revenues.
Yakubu also disclosed that the corporation had acquired additional 3-Dimensional Seismic data as part of the ongoing efforts of the Federal Government to increase the country’s crude oil reserves through increased exploration in the Inland Basins, especially in the Chad Basins.
The NPDC with head office in Benin, Edo State and base offices in Port Harcourt and Warri for operational logistics support was established in 1988 as a wholly owned subsidiary of the NNPC with responsibility for Petroleum Exploration and Production activities.
NPDC activities cover the spectrum of the upstream oil and gas business from exploration to abandonment.
Operations are concentrated mainly in the Niger Delta and span five States - Imo, Edo, Delta, Bayelsa and Rivers.