On April 19th, 2024, the Nigerian National Petroleum Company Limited (NNPCL), in collaboration with its Joint Venture partner, First Exploration and Petroleum Development Company Limited, commenced oil production at OML 85, also known as the Madu Field.
Situated in shallow waters offshore Bayelsa State, the field, operated by First E&P, is expected to yield an average of 20,000 barrels per day.
In a statement released by Olufemi Soneye, the Chief Corporate Communications Officer of NNPCL, the company heralded this development as a significant milestone.
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Mr. Mele Kyari, the Group Chief Executive Officer of NNPCL, lauded the commencement of production at the Madu Field, emphasizing its contribution to the nation’s revenue growth and economic prosperity.
Kyari underscored the commitment of President Bola Tinubu’s administration to maximizing production from Nigeria’s oil and gas reserves by fostering an investor-friendly environment.
He expressed gratitude to stakeholders for their support, emphasizing that the addition of 20,000 barrels per day by an indigenous oil player reflects a collective dedication to Nigeria’s economic advancement.
The decision to develop the Madu Field, along with its sister field, Anyala, was finalized in 2018 through a Joint Venture between NNPC Ltd. and First E&P. Oil production from the Madu Field will be processed at the Abigail-Joseph Floating Production Storage and Offloading Unit, boasting a crude oil storage capacity of up to 800,000 barrels.
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