The Nigerian National Petroleum Company Limited (NNPCL) and its joint venture partner, First Exploration and Petroleum Development Company Limited (First E&P), have successfully begun oil production from the Madu Field. This field, located in shallow waters offshore Bayelsa State, is expected to produce an average of 20,000 barrels per day.
In a statement released by NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, it was highlighted that this achievement is a testament to the commitment of the government to optimize production from the nation’s oil and gas assets. The President Bola Tinubu administration has created an enabling environment for both existing and potential investors in the industry.
NNPCL Group Chief Executive Officer, Mele Kyari, expressed his excitement about the commencement of oil production at the Madu Field, emphasizing its significance in contributing to the overall goal of increasing revenue and boosting the nation’s economy. Kyari also acknowledged the support of stakeholders and praised the indigenous oil player for adding 20,000 barrels per day to the country’s production capacity.
The decision to develop the Madu Field and its sister field, Anyala, was made back in 2018 by NNPCL and First E&P. The oil produced from the Madu Field will be processed at the Abigail-Joseph Floating Production Storage and Offloading (FPSO) Unit, which has a storage capacity of up to 800,000 barrels.
This milestone marks a significant step towards economic development for Nigeria, showcasing the commitment of all stakeholders involved in the project. The successful production from the Madu Field is a promising sign for the future of the nation’s oil and gas industry.
