"This is Historic:" Nigeria Discovers Another Oil Well, NNPC Begins Crude Production

"This is Historic:" Nigeria Discovers Another Oil Well, NNPC Begins Crude Production

  • The Nigerian National Petroleum Company (NNPC) and Natural Limited Oilfield Services have begun the production of oil in a new well
  • The NNPC stated that the new oil well, OML 13 in Akwa Ibom state, is expected to produce 40,000 barrels per day
  • The company said the NNPC and its partners have already commenced the production of 6,000 barrels at the OML

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

The Nigerian National Petroleum Company Exploration and Production Limited (NNPC E&P Ltd), a subsidiary of NNPC and Natural Limited Oilfield Services Limited (NOSL), has announced the successful commencement of oil production at Oil Mining Lease (OML) 13 in Akwa Ibom state.

The NNPC announced this in a statement signed by its chief corporate communications officer, Olufemi Soneye, on Sunday, May 12, 2024.

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It said the production, which began on May 6, 2024, with about 6,000 barrels of oil, is expected to be ramped up to 40,000 barrels daily by May 27, 2024.

NNPC and partner begin crude oil production
NNPC announced the discovery of crude oil at OML 13 Credit: Bloomberg/Contributor
Source: Getty Images

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The statement reads:

“The first oil flow from OML 13 is a historic milestone in the partnership between NNPC E&P Ltd and NOSL, highlighting their dedication to driving growth and development in Nigeria’s oil and gas sector, which remains a vital component of the nation’s economy.

According to the statement, the first oil from OML 13 is important as it contributes to Nigeria’s efforts to increase its oil production capacity, which is critical for domestic energy needs and the economy.

According to a report, Soneye said the NNPC E&P and NOSL partnership is also committed to operating in a safe, environmentally responsible way that benefits the local communities.

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Two Nigerian refineries set to begin operation

Legit.ng also reported that following the protracted petrol scarcity in Nigeria, the chairman of the senate committee on Petroleum (Downstream), Ifeanyi Ubah, said that two Nigeria refineries would become fully operational this year.

Ubah said the Port Harcourt and Warri refineries are currently undergoing turnaround maintenance and will function on the set dates.

The senator said plans have already begun to achieve the set target, adding that the Kaduna Refinery would also become functional before the end of 2025.

Proofreading by James Ojo Adakole, journalist and copy editor at Legit.ng.

Source: Legit.ng

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