NNPC, FIRST E&P eye 100,000bpd oil production

The Nigerian National Petroleum Company Limited and FIRST Exploration & Petroleum Development Company Limited Joint Venture is planning to achieve its ambitious target of producing 100,000 barrels of crude oil per day soon.

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, reaffirmed the Federal Government’s commitment to supporting the joint venture towards achieving this.

The minister made this declaration during an engagement with the JV, which included a two-day tour of its offshore drilling and production facilities in the Niger-Delta.

The two-day visit was designed to provide the minister firsthand insight into the JV’s operations and underscore its contributions to Nigeria’s energy security and transition goals.

In a statement made available to our correspondent on Thursday, First E&P said the visit commenced with a tour of the Abigail-Joseph, the JV’s Floating Production Storage and Offloading vessel, followed by inspections of the Anyala OML 83 and Madu OML 85 Conductor Supported Platforms on Tuesday.

The minister also visited the V’s Ogu Logistics Base and with a host community stakeholders engagement meeting in Yenagoa, Bayelsa State.

Speaking, the minister disclosed that by meeting this ambitious 100,000 BOPD target, the JV would be helping the Federal Government achieve its production goal of 2.5 million BOPD by 2025.

The minister also commended FIRST E&P for its role in Nigeria’s recent achievement of 1.8 million BOPD and highlighted the strategic significance of the company’s operations to national growth.

During an engagement held with the minister, FIRST E&P’s Managing Director, Ademola Adeyemi-Bero, reaffirmed the company’s commitment to supporting the Federal Government in achieving its target by maximising production, optimising efficiency, and contributing to Nigeria’s energy security through the NNPCL/FIRST E&P JV partnership.

“For a nation like Nigeria, where oil and gas remain critical drivers of socio-economic growth, ensuring a sustainable energy supply is essential for industrialisation, economic diversification, and improving the quality of life for millions. At FIRST E&P, our vision is strongly aligned with the national priorities for production. With a steady output of 56,000 BOPD, we are focused on achieving our medium-term target of surpassing 100,000 BOPD,” stated Adeyemi-Bero.

The Chief Upstream Investment Officer of NNPC Upstream Investment Management Services, Bala Wunti, who was represented by the Head of Joint Venture Investment Management at NUIMS, Olanrewaju Igandan, applauded FIRST E&P and its partners for their remarkable achievements over the past decade.

Wunti highlighted that since achieving its first oil in 2020, the partnership has produced over 50 million barrels of oil, significantly contributing to national revenue through royalties, taxes, and host community development initiatives.

While commending the JV, the Bayelsa State Governor, Douye Diri, represented by his Chief of Staff, Dr Peter Akpe, called for greater collaboration between the Federal Government, oil companies, and state authorities to boost production.

Speaking during the host community meeting, the Chairman, KEFFESO Host Communities Development Trust, Amadabo of Moko-ama, Sangana Kingdom, Moses Theophilus, commended the management of the JV for their invaluable support to the host communities through various initiatives in the areas of education, health care, and human capital development.