Nigeria projects 4M barrels daily crude production by 2020 …commits to 40 billion Barrels Crude Reserves Target

ABUJA-The State-owned Nigerian National Petroleum Corporation, NNPC, has reiterated its determination to growing the nations proven crude oil reserve from its current level of 37 billion barrels to 40 billion barrels by the year 2020.
Speaking in Kaduna at a reception organised by the state government in honour of some illustrious sons and daughter of Kaduna State, Engr. Andrew Yakubu, Group Managing Director of NNPC, also one of the celebrants, stated that apart from ensuring an increase in the level of proven reserves the Corporation is working assiduously towards increasing production from the current figure of 2.4 million barrels per day to a record 4 million barrels per day by 2020.
Nigeria’s production of crude oil now averages at 2.4 million barrels daily after recording an all time high of 2.7million barrels per day late July.
“As we endeavour to achieve effective transformation of the oil and gas industry in line with the Transformation Agenda of Mr. President our target is to ensure that we grow our proven crude reserves to 40 billion by 2020 and also increase our production to 4 million barrels per day by 2020,’’ Engr. Yakubu stated.
The GMD also assured that the Corporation, alongside its JV partners, is strategically focused on power generation via effective alignment with the power supply aspiration of the Federal Government.
He stated that the NNPC is also working on strategic upgrade of gas infrastructure in Kaduna and other Northern States to help resuscitate the ailing textile industry in that part of the country.
Engr. Yakubu also reassured residents of Kaduna and adjoining states of adequate supply of petroleum products, noting that Kaduna Refinery is currently producing about 4 million litres of Premium Motor Spirit (PMS) per day.
“The Kaduna Refinery is one of the best run in the country today. It currently produces 4million litres of PMS every couple of days and this has helped us to stabilise supply in Kaduna and its environs especially at this trying period,’’ he said.
He pledged that the plan to ensure complete turn around and rehabilitation of the nation’s refineries is still intact as the lead equipment for the TAM of Port Harcourt Refinery has since arrived.
“Once we are done with Port Harcourt Refinery Kaduna is next in line and from there we move to Warri Refinery,’’ the GMD said.
Engr. Yakubu thanked the government and people of Kaduna State for the special recognition noting that it is re-assuring to know that “you are loved back home when embarking on a journey like this’’.
The event which had Vice President Architect Namadi Sambo as Special Guest of Honour and former Chief Justice of Nigeria, Muhammadu Lawal Uwais as Chairman conferred awards to three other prominent indigenes of Kaduna State. These include: Minister of the Environment Hajiya Hadiza Mailafia, Justice of the the Supreme Court, Hon. Justice Kumai Akaahs and National Organising Secretary of the Peoples Democratic Party, Alhaji Abubakar Mustapha.
In his remarks, the Vice-President commended Engr. Yakubu for piloting the Corporation in the right direction especially the recent effort to resuscitate the search for oil in the inland sedimentary basins particularly the Chad Basin which has shown some significant breakthroughs.
A similar position was echoed by the Kaduna State Governor, Sir. Ibrahim Yakowa who praised Engr. Yakubu for his focus and sterling leadership qualities.

You may also like...

Leave a Reply