This remarkable achievement can be attributed to the unwavering dedication and collaborative efforts of our esteemed staff members, who have consistently demonstrated exceptional commitment in recent weeks.
In light of this achievement, the board chairman, Chief Pius Akinyelure, has challenged the organization to reach a target of 3 million barrels per day by December 2024.
Group Chief Executive Officer (GCEO), Malam Mele Kyari, instructed the Production War Room Officer, Mr. Lawal Musa, to share the details of this achievement during a press conference in Abuja.
Musa expressed his congratulations, stating, “Congratulations on surpassing 1.8 million barrels per day! This success is a testament to the hard work of all teams in recent weeks. Let’s maintain this momentum and aim for 2 million barrels per day by the end of the year.”
He noted that NNPCL accounted for 80 percent of the total production figure.
In response, Akinyelure praised the management team for their efforts in boosting production to 1.8 million barrels per day.
He expressed his satisfaction with the economic benefits this production level will bring to the company’s operating income through the end of the year.
Akinyelure encouraged the state-owned oil company to view the 1.8 million barrels per day as a foundational benchmark for future improvements.
The board chairman emphasized the importance of maintaining this production level and urged the company to strategize for achieving the 3 million barrels per day target by December.
He remarked, “It is a matter of great pleasure to be here today to be part of this successful display of the success of the management team increasing our production to 1.8mb.
“I am very happy because we know the economic impact it will generate to our income and at this point I will also like the management to give us a cash flow of operating income between now and December.
“This is just the beginning we want to see more landmarks accomplishments at this level.
"The rule is we should make sure we do not fall below this level. I am hoping that by December you should be talking of about 3mb/d. Let it be a plan.”
Kyari praised the War Room team for successfully restoring the nation’s oil production from its low point on June 21, 2024. He emphasized that NNPCL is not only focused on recovery but also on increasing production to meet expectations.
He noted that President Ahmed Tinubu has directed the company to elevate production to levels that satisfy shareholders both in the short and long term.
Kyari affirmed that achieving a target of 2 million barrels per day is feasible with the backing of the board, ministers, and security agencies.
Recently, Tantita Security Services has enhanced its operations, leading to the arrest of numerous individuals involved in crude oil theft and pipeline vandalism in the Niger Delta region.
In collaboration with government security agencies, the private firm uncovered 15 illegal pipeline connections and 68 unauthorized refineries in the past week.
The Honorable Minister of State for Petroleum Resources conveyed his utmost enthusiasm for the commendable efforts undertaken by Mr. Kyari, particularly emphasizing the establishment of a dedicated war room with the strategic objective of augmenting production levels.
Furthermore, he strongly encouraged the Nigerian National Petroleum Company Limited (NNPCL) to set an ambitious production target of 2.5 million barrels per day by December, drawing inspiration from the remarkable achievements attained during the challenging period of the COVID-19 pandemic.