Nigerian Petroleum Development Company (NPDC), Targets Production Capacity of 250,000bpd by 2020
NPDC, a subsidiary of the Nigerian National Petroleum Corporation (NNPC) targets to raise its crude oil generating capacity from the 70,000 barrels per day recorded about few years to 250,000 barrels per day by 2020.
The Group Managing Director of NNPC, Mr. Andrew Yakubu, who made this revelation at a capacity building workshop in Uyo, Akwa Ibom State, further disclosed that the NPDC witnessed improvement in its performance in the last two years.
Yakubu stated that NPDC has become the fifth largest producer of oil and gas in Nigeria and the largest supplier of gas to the domestic market.
He said in line with the Federal Government’s aspiration to transform the oil and gas sector, especially the NNPC into an integrated oil and gas company, he had on assumption of office evaluated the sector and set out strategies to improve oil and gas production.
“On the average today, we are able to maintain 2.5 million barrels per day production, although we had serious challenges of crude oil theft and bunkering from our major trunklines and these trunklines are mainly in the East, West and centre of the country,” he said.