Eni Reports 20% Crude Output Rise in Abo Field, Lauds NUPRC’s Reforms
IOC says oil firms not leaving Nigeria
Emmanuel Addeh in Abuja
International Oil Company (IOC), Eni, has revealed a 20 per cent rise in crude production at its Abo asset in the Niger Delta, applauding the Gbenga Komolafe-led Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its recent reforms.A statement by the Head of Media and Strategic Communications at the NUPRC, Eniola Akinkuotu, stated that this was disclosed when Komolafe received a high-level delegation from Eni at its Headquarters in Jabi, Abuja.
The meeting, the statement explained, was for strategic discussions aimed at deepening collaboration to boost production, investment confidence and operational efficiency in Nigeria’s upstream oil and gas sector.According to the commission, the visit underscored the growing optimism within the industry as Nigeria pursues its production target of 3 million barrels per day.Besides, it underscored recent operational gains, which it said have strengthened this positive outlook, stressing that the production rise is the company’s first production overrun in decades.
This improvement, it said, was attributed to reduced vandalism, improved asset security, and enhanced operational capacity, particularly in deepwater operations.In his remarks, the Director Upstream at Eni, Mr. Luca Vignati, emphasised the positive shift in Nigeria’s operational landscape due to the recent changes to encourage investment and support additional production.“Nigeria’s production landscape has undergone a remarkable transformation over the last 18 to 24 months. This is a credit to the authorities for providing an enabling environment, and to international oil companies that have recognised the opportunity to operate more efficiently.“Contrary to popular perception, international companies are not leaving Nigeria; they are simply moving further into deepwater operations,” Vignati clarified.Vignati stated that there are now clear signs of improved operational stability, reduced vandalism, and growing investor confidence in the nation’s oil sector.He added: “For the first time in decades, ENI is producing above budget in Nigeria, with a 20 per cent increase at the Abo asset.
This is a clear sign of improved operational stability, reduced vandalism, and growing investor confidence in the country’s upstream sector.” Located in OML 125 deep offshore, Abo was Nigeria’s first deepwater producing field, operated by Eni’s subsidiary, Nigerian Agip Exploration (NAE), through a Production Sharing Contract (PSC) with the Nigerian National Petroleum Company Limited (NNPC) and other partners.Also speaking, the Commission Chief Executive, Komolafe, welcomed the delegation and reiterated the NUPRC’s unwavering commitment to driving regulatory efficiency, fostering investment growth, and ensuring a stable, secure operating environment for operators.“Our rig count has been growing geometrically, reflecting renewed investor confidence. This momentum reinforces Nigeria’s emergence as a preferred destination for upstream investments” Komolafe stated.The CCE highlighted that Nigeria’s improving production environment both onshore and offshore is already yielding tangible outcomes.
Komolafe noted that the reduction in vandalism incidents by 90 per cent had unlocked greater asset uptime and boosted operational efficiency across the value chain. This, coupled with near-full capacity utilisation at Nigeria LNG Train 6 and efforts to fully optimise Train 7, he said. signals sustained momentum in the sector.The CCE commended ENI for its continued confidence in Nigeria and reiterated the commission’s dedication to sustaining reforms that support investment growth in the oil and gas sector.
