NNPC Expects Madu Field, OML 85 To Begin Oil Production Next Year

The Nigerian National Petroleum Corporation in a Joint Venture with First Exploration and Production Development Company Limited has announced the commencement of Oil Production from Oil Mining Leases 83/85.

The Corporation via its Twitter handle @NNPCgroup on Thursday, said that the effort will lead to an expected peak production of 60,000bn barrel.

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It said, “Discovered 42 years ago, Anyala Field located in OML 83/85 is a shallow water asset. This remarkable milestone will lead to an expected peak prodn of 60,000 barrels.

“The milestone marked the introduction of hydrocarbon into the Abigail-Joseph Floating Production Storage & Offloading Vessel which was safely achieved at 15:00hrs on 21st October, 2020.”

The Group Manager Director, NNPC, Mele Kyari reiterated the Corporation’s commitment to monetizing Nigeria’s abundant oil/gas resources from all the Corporation’s assets.

“It’s in our informed interest to deliver gas projects in view of the resilience gas has shown in the market since COVID-19 outbreak and the value it delivered,” he said.

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He also noted that the Corporation will continue to work with parners to deliver low-cost barrels in spite of the current market dynamics occasioned by the COVID19 pandemic.

“We remain ever committed to delivering value to the 200 millon Nigerians, who are our critical shareholders.

“The @NNPCgroup/@FirstEandP JV also operates the Madu Field, which is located in OML 85. It is expected to come on stream in 2021”.

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