May 30, 2024

NNPC, First E&P attain first oil at OML 85 with 20,000b/d production


Ilenre Irele

The Nigerian National Petroleum Company Limited,NNPC, and its Joint Venture partner in OML 85, First Exploration and Petroleum Development Company Limited, First E&P, have begun oil production from the asset also known as Madu Field.

Production from the field, which is situated in shallow waters offshore Bayelsa State and operated by First E&P, is expected to be at an average of 20,000 barrels per day.

Speaking on the development, the Group Chief Executive Officer of NNPC, Mr. Mele Kyari, described the commencement of oil production at the Madu Field as a significant milestone that will contribute to the larger goal of meeting the production required to drive revenue growth and boost the nation’s economy.

Kyari, who commended stakeholders for their support, also explained that the addition of 20,000 barrels per day by an indigenous oil player signals the commitment of stakeholders to achieving economic development for Nigeria.

It would be recalled that the Final Investment Decision on the development of the Madu Field and a sister field, Anyala, was taken by the NNPC/First E&P JV in 2018.

Production from the Madu Field will be processed at the JV’s Abigail-Joseph Floating Production Storage and Offloading Unit, which has a crude oil storage capacity of up to 800,000bbls.

Also speaking, the Managing Director, First E&P, Ademola Adeyemi-Bero, stated that the achievement underscores FIRST E&P’s commitment to delivering value to its stakeholders while contributing to the energy needs of the nation and beyond.

Emphasising the significance of the development, Adeyemi-Bero stated: “Achieving production from the Madu Field is a milestone event and an integral part of our long-term strategy. With this, we have further demonstrated that FIRST E&P is committed to delivering sustained growth and impact in the dynamic energy landscape. We remain steadfast in our pursuit of operational excellence and look forward to contributing even more to the prosperity of the communities in which we operate and to the nation as a whole.”

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