Nigeria boosts crude oil production with new Akwa Ibom field

The Nigerian National Petroleum Corporation (NNPC) has begun production at a new oil field in Akwa Ibom state, aiming to ramp up output to 40,000 barrels per day (bpd) within two weeks.

This comes as Nigeria struggles to meet its OPEC quota and domestic energy needs.

The Nigerian Upstream Petroleum Regulatory Commission’s monthly production status report on Sunday said that the country’s oil output in April rose 4.1% from March to 1.28 million barrels, still short of this year’s budgetary provision of 1.78 million barrels and its OPEC quota.

Production at Oil Mining Licence (OML 13) began on May 6, with an initial output of 6,000 bpd. NNPC and its partner, Natural Oilfield Services Ltd, aim to significantly increase production to 40,000 bpd by May 27.

Natural Oilfield Services Ltd is a subsidiary of Sterling Oil Exploration and Energy Production Company (SEEPCO).

“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,” NNPC spokesperson Olufemi Soneye said in a statement.

OML 13, located in Akwa Ibom, is estimated to hold reserves of more than 900 million barrels of oil and 5 trillion cubic feet of natural gas.

“The achievement does not only signify the culmination of rigorous planning and execution by the teams involved but also represents a new era of economic empowerment and development opportunities for the host communities,” NNPC said.

“Furthermore, for Nigeria, the first oil from OML 13 holds some significance as it contributes to the country’s efforts to increase its oil production capacity, which is crucial for meeting domestic energy needs and driving economic growth.”