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  • Oil & Gas - News
  • Updated: February 17, 2024

NNPC begins oil production at Akpo West, targets 14,000 barrels per day

NNPC begins oil production at Akpo West, targets 14,000 barr

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced the start of oil production from the Akpo West Field, with a capacity of 14,000 barrels per day.

The Chief Corporate Communications Officer, Olufemi O. Soneye, shared the news on Wednesday evening, marking a watershed event in the country's oil and gas business.

The action is a response to President Bola Ahmed Tinubu's demand to increase oil and gas production, which is precisely aligned with broader national goals. 

According to the statement, President Tinubu's visionary leadership has set the stage for future prosperity.

"The milestone, which is the result of meticulous planning, strategic collaboration, and unwavering dedication from all stakeholders involved in the project, will add 14,000 barrels per day of condensate to the nation’s production.

"This will be followed up by the production of about 4 million cubic meters of gas per day by 2028,” a part of the statement reads.

Akpo West, which is being developed on Petroleum Mining Lease (PML) 2 (previously OML 130), will make use of the existing Akpo Floating Production Storage and Offloading (FPSO) facility via a subsea tieback.

Located 135 kilometres offshore, it is a discovery on PML 2 that complements the existing Akpo Main field, which began operations in 2009 and will produce 124,000 barrels of oil equivalent per day in 2023.

PML 2 is operated by TotalEnergies (24% interest), CNOOC (45%), Sapetro (15%), Prime 130 (16%), and NNPC Ltd., the Production Sharing Contract concessionaire.

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