Minister of State for Petroleum Resources, Dr. Ibe Kachikwu

By Chineme Okafor in Abuja

Nigeria hopes to mine at least 2.4 million barrels of crude oil from her fields every day in 2016, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has disclosed.

He spoke recently in Abuja on the work plan he intends to pursue in the country’s oil and gas sector for the year.

He said that even though the planned output target of 2.4 million barrels per day (mbpd) of oil was not listed in the country’s annual budget, that it was that production volume that she will mostly pursue.

The minister however noted that about 200,000bpd of the planned total output would be cut off and dedicated for domestic refining. He added that the remaining 2.2mbpd would be kept whole for export.

According to him, the country would have been doing 2.3mbpd of production but for the pipeline incident that was recorded on one of Shell’s facilities last week.
“In terms of volumes, I think we are working at a 100 per cent volume. Before the Shell pipeline incident which happened about a week ago, we were already hitting about 2.3mbpd up from about 2.18mbpd.

“Target this year really is without putting that in the budget, we try to target to see if we can get up to about 2.4mbpd and dedicate some of that to total refining capacity and keep our 2.2mb as whole as we can,” said Kachikwu.

“That is still the target we are shooting for and I think that if we have a 100 per cent performance in terms of funding and oil companies are going full blast in their works, we will see things happen,” he added.

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