Production from the field which is located in shallow waters
offshore Bayelsa State and operated by First E&P is expected to be at an
average of 20,000 barrels per day.
This was contained in a statement by the NNPCL Chief
Corporate Communications Officer, Olufemi Soneye, on Friday.
Speaking on the development, the NNPCL Group Chief Executive
Officer, Mr Mele Kyari, described the commencement of oil production at the
Madu Field as a significant milestone that will contribute to the larger goal
of meeting the production required to drive revenue growth and boost the
nation’s economy.
According to him, the achievement is a testament to the
commitment of President Bola Tinubu’s administration to optimise production
from the nation’s oil and gas assets through the provision of an enabling
environment for existing and prospective investors.
Kyari, who commended stakeholders for their support, also
explained that the addition of 20,000 barrels per day by an indigenous oil
player signals the commitment of stakeholders to achieving economic development
for Nigeria.
It would be recalled that the Final Investment Decision on
the development of the Madu Field and a sister field, Anyala, was taken by the
NNPC Ltd./First E&P JV in 2018.
Production from the Madu Field will be processed at the JV’s
Abigail-Joseph Floating Production Storage and Offloading Unit, which has a
crude oil storage capacity of up to 800,000 bbls.
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