The Nigerian National Petroleum Company Limited, NNPCL and its joint venture partner in OML 85, First Exploration and Petroleum Development Company Limited, First E&P, have commenced oil production from Madu Field.
A statement by NNPCL Chief Corporate Communications Officer Olufemi Soneye, said production from the field, located in shallow waters offshore Bayelsa State and operated by First E&P, is expected to be at an average of 20,000 barrels per day.
He said the achievement is a testament to the commitment of the President Bola Tinubu administration to optimise production from the nation’s oil and gas assets through the provision of an enabling environment for existing and prospective investors.
According to the statement, NNPCL Group Chief Executive Officer, Mele Kyari, described the commencement of oil production at the Madu Field as a significant milestone that will contribute to the larger goal of meeting the output required to drive revenue growth and boost the nation’s economy.
Kyari, who commended stakeholders for their support, also explained that the addition of 20,000 barrels per day by an indigenous oil player signals the commitment of stakeholders to achieving economic development for Nigeria.
The final investment decision on the development of the Madu Field and a sister field, Anyala, was taken by NNPCL and First E&P in 2018.
“Production from the Madu Field will be processed at the JV’s Abigail-Joseph Floating Production Storage and Offloading (FPSO) Unit, which has a crude oil storage capacity of up to 800,000 bbls,” Soneye said.