June 22, 2024
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NNPC Ltd, First E&P Achieve 20,000bpd Production

The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its Joint Venture partner, First Exploration and Petroleum Development Company Limited (First E&P), have initiated oil production from OML 85, also known as the Madu Field.

According to an official statement from the company, the Madu Field, located in shallow waters offshore Bayelsa State and operated by First E&P, is projected to produce an average of 20,000 barrels per day.

Mr. Mele Kyari, the Group Chief Executive Officer of NNPC Ltd., hailed the commencement of oil production at the Madu Field as a significant milestone. He emphasized its contribution to the broader objective of meeting production targets to drive revenue growth and bolster the nation’s economy.

Kyari praised stakeholders for their support and highlighted the addition of 20,000 barrels per day by an indigenous oil player as a testament to their dedication to Nigeria’s economic development.

The decision to develop the Madu Field and its sister field, Anyala, was finalized with a Final Investment Decision (FID) by the NNPC Ltd./First E&P Joint Venture in 2018.

Oil produced from the Madu Field will undergo processing at the JV’s Abigail-Joseph Floating Production Storage and Offloading (FPSO) Unit, equipped with a crude oil storage capacity of up to 800,000 barrels.

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