FG Throws Weight Behind NNPC/FIRST E&P JV’s 100,000 Bpd Production Target
By Abimbola Abdullah
The Federal Government has reaffirmed commitment to supporting the NNPC Limited/FIRST Exploration & Petroleum Development Company Limited (FIRST E&P) Joint Venture (JV) in achieving its ambitious target of producing 100,000 barrels of oil per day (BOPD).
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, made this declaration during a comprehensive engagement with the JV, which included a tour of its offshore drilling and production facilities in the Niger-Delta.
The minister engaged on a two-day visit to have a firsthand insight into the JV’s operations and underscore its contributions to Nigeria’s energy security and transition goals.
The visit commenced with a tour of the Abigail-Joseph, the JV’s Floating Production Storage and Offloading (FPSO) vessel, followed by inspections of the Anyala OML 83 and Madu OML 85 Conductor Supported Platforms (CSPs) on Tuesday, November 19, 2024. The Minister’s itinerary also included a visit to the JV’s Ogu Logistics Base and a Host Community Stakeholders Engagement meeting in Yenagoa, Bayelsa State.
Describing his tour as quite strategic to Nigeria, Lokpobiri 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.
He also praised 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 industrialization, 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 (NUIMS), Bala Wunti, 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.
He highlighted that since achieving 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 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 Stakeholders Engagement meeting, Chairman, KEFFESO Host Communities Development Trust (KHCDT), 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.
Lokpobiri commended the JVs host communities for creating a peaceful and supportive environment that has enabled the company to operate smoothly without disruptions.
He urged the communities to continue their collaboration with the company, emphasizing that their support is crucial for increasing production and achieving the ambitious targets set.
Reassuring stakeholders, he reaffirmed the Federal Government’s commitment to enhancing Nigeria’s investment climate and ensuring the nation remains globally competitive in the oil and gas sector.
