NNPCL, First E&P commence oil production at Madu field

The Nigerian National Petroleum Company Limited, (NNPCL) in partnership with First Exploration and Petroleum Development Company Limited has announced the commencement of oil production from Madu Field as part of a joint venture with OML 85.

According to Olufemi Soneye, Chief Corporate Communications Officer of NNPCL, output from the field, which is operated by First E&P and located in shallow waters offshore Bayelsa State, is expected to average 20,000 barrels per day.

The achievement, he added, demonstrates President Bola Tinubu’s administration’s commitment to maximizing the country’s oil and gas resource production by fostering an environment that attracts both existing and new investors.

The start of oil production at the Madu Field has been hailed by NNPCL Group Chief Executive Officer Mele Kyari as a major milestone that would help achieve the overall objective of producing enough oil to spur economic growth and generate revenue growth.

In addition to thanking the stakeholders for their assistance, Kyari clarified that the 20,000 barrels per day increase by an indigenous oil business indicates the stakeholders’ commitment to attaining Nigeria’s economic development.

NNPCL and First E&P made the final investment decision in 2018 to develop the Madu Field and its sister field, Anyala.

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