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NNPC Targets 4 million bpd Oil Production by 2020

By on October 9, 2012

Andrew Yakubu, NNPC GMD

The Nigerian National Petroleum Corporation (NNPC) has expressed resolve to grow oil reserves to 40 billion barrels from its current 37 billion barrels by the year 2020.

The Group Managing Director of NNPC, Andrew Yakubu, stated this in his hometown, in Kaduna while addressing an audience at a reception organised by the State Government.  He also stated that the Corporation is working tirelessly to achieve the target of four million barrels per day (bpd) oil production by 2020 from its current 2.7 million bpd.

The highest production per day ever recorded by the cooperation was 2.7 million bpd, which was recorded in July this year; the average production is 2.4 million bpd.

He said, “As we endeavour to achieve effective transformation of the oil and gas industry in line with the transformation agenda of Mr President, our target is to ensure that we grow our proven crude reserves to 40 billion by 2020 and increase our production to four million barrels per day by 2020.”

He noted that because the refinery in Kaduna is producing about 4 million litres of premium Motor Spirit (PMS), residents of Kaduna and neighbouring states have nothing to worry about as products will be made available to them without shortage.

“The Kaduna Refinery is one of the best run in the country today. It produces four million litres of PMS every couple of days and this has helped us to stabilize supply in Kaduna and its environs especially at this trying period,” he said.

He vowed that, the arrangement to certify complete revitalization and rehabilitation of the country’s refineries is still in one piece, as the lead equipment for the TAM of Port Harcourt Refinery has since arrived. “Once we are done with Port Harcourt Refinery, Kaduna will be next in line and from there we move to Warri Refinery.

Notable personalities at the event included, the Vice-President Namadi Sambo as special guest of honour, former Chief Justice of Nigeria (CJN), Muhammadu Lawal Uwais as Chairman and three others who were conferred awards. Minister of the Environment Hajiya Hadiza Mailafia, the National Organising Secretary of the Peoples Democratic Party (PDP), Alhaji Abubakar Mustapha, and the Justice of the Supreme Court, Hon. Justice Kumai Akaahs, were the awardees.

The Vice-President in his comment, praised Yakubu for the wonderful job done heading the corporation in the right direction, mostly as regards the recent effort to revive the search for oil particularly the Chad Basin, which has shown some noteworthy success.

The Kaduna State Governor, Sir Ibrahim Yakowa, joined the Vice-President in praising Yakubu for his determination, focus, and excellent leadership qualities as well.