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NPDC RECORDS BOOST IN CRUDE OIL PRODUCTION

By NBF News
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http://www.nigerianbestforum.com/blog/?attachment_id=121479 The Nigerian Petroleum Development Company, the exploration and production subsidiary of the Nigerian National Petroleum Company (NNPC) has said it recorded production growth due to an aggressive drilling it commenced on some of its Oil Mining Leases (OMLs).

This according to a statement yesterday issued by the Acting Group General Manager, Group Public Affairs Division of the NNPC, Fidel Pepple, was in keeping with its target to grow its production to 250,000 barrels per day (bpd) by 2015.

'The latest of NPDC's production strides is the successful drilling of Okono 6 and 7 oil wells in its OML 119 which are currently yielding 12,000 barrels per day,' the statement said.

According to Pepple, the Okono 6 and 7 wells were significant not just because they represented the company's independent efforts at growing production but also because of the prolific nature of the wells which were producing at an average of 6,000 barrels per day as against the older wells which were producing at an average of 3,000 barrels per day.

'From 2010 till date our production rose from 65,000 to 130,000 barrels per day, a bulk of the increase consists of assets handed over to us upon divestment by some of our JV partners; but we realise that for us to meet the target of 250,000 barrels per day by 2015, we need to build on this by exploring further afield and drilling more wells. Okono 6 and 7 wells represent our success story in this direction,' the statement said.

While disclosing that the company's target was to drill 40 wells in the next five years as part of its growth projection, the statement added that the NPDC planned to drill more wells as from 2013 and would deploy two more rigs in addition to the two it currently has on site.

On gas supply, the statement said: 'We have commenced gas production from our Oredo Gas Plant since November and we currently produce 65mmscf per day.'