NPDC Targets 500,000 Barrels Per Day Oil Production Volume

The Nigerian Petroleum Development Company an upstream subsidiary of the Nigerian National Petroleum Corporation contributes a total of one billion Standard Cubic Feet Of Gas Per Day to the country’s production volume.

The NNPC Group Managing Director mele kyari said this on Wednesday during a tour of oil and gas facilities and installations at the NPDC in Benin, Edo State.

According to the GMD, the company which is owned 100 per cent by Nigerians is being developed to become the apex upstream company in the country.

He also said the target of the company in the next two years is to raise oil production output to about 500,000 Barrel Per Day.

The NPDC production volume moved from 136,000 barrels of oil per day in 2019 to about 260,000 barrels per day this year.

“This is possible within two years as we have lined up projects to achieve that

“With the support of key stakeholders, particularly Mr. President, we will achieve this goal,” he added.

Kyari stated that being the largest contributor of gas to the domestic market for the power sector, the NPDC remains a national responsibility.

“NPDC is a top grade company that’s producing oil at a cost cheaper than most of its competitors.This is part of our target of bringing down the cost of prodn to $10/barrel.

”We’re using NPDC as a benchmark so that once it delivers,every other company must deliver.”