The Nigerian National Petroleum Company, NNPC, Limited, has disclosed that plan is underway to raise the nation’s crude oil reserve to 50 billion barrels. Currently, the reserves hover around 37 billion barrels.
The state owned oil company stated this during the official drilling for crude in the Ebenyi-A well in Obi Local Government Area of Nasarawa state.
Crude Oil was recently discovered in the state and NNPC has started drilling with the aim to increase the nation’s crude reserve from the current figure.
Apart from Nasarawa, crude oil exploration in Gombe and Bauchi states where crude had just been discovered, experts say will compliment NNPC efforts to hit the 50 billion target in few years.
Speaking, Mele Kyari NNPC Limited chief excutive said the target is to raise the country’s daily crude production to 3 million barrels from the current 1.8 million barrels.
He said, “Today, we have mobiliaed the drilling rig to this site, here in Obi Local Government Area of Nasarawa State. We are optimistic that the positive outcome of this campaign will contribute to the national aspiration of increasing our hydrocarbon reserves from 37 billion barrels to 50 billion barreis, in the short to medium term and increase our crude oil production to a target of three million barrels (per day).
“I wish to reiterate that NNPC Ltd in conjunction with the NURPC (Nigeria Upstream Petroleum Regulatory Commission) are committed to conducting exploration activities of the nation’s frontier basins that spans the Chad Basin, Upper and Lower Benue troughs, Bida Basin, the Sokoto Basin, Dahomey, Anambra platform, Calabar embarkment and the Ultra deep water Niger Delta, using the best industry standards and technologies.”
Nigeria has recently ramp up its crude oil production to take back its prime position as Africa’s biggest oil producer, after it had earlier been overtaken by Angola.
Official figures released recently by the National Bureau of Statistics, NBS, indicate that the country’s daily crude production now stands at over one million barrel.
The figure will likely rise in few months going by NNPC’ s efforts, energy experts say.
