NNPC Has Given Us All We Need To Grow Oil & Gas Production -– MD SNEPCo

She said this at the NNPC Upstream Investment Management Services (NUIMS) 2023 Annual Value Assurance Review (AVAR) holding in Lagos.

Received by the Chief Upstream Investment Officer, Mr Bala Wunti, Aiboni was full of praise and appreciation for the NUIMS leadership for creating an enabling environment that fosters collaboration amongst partners.

Citing the recent lease renewal, the MD restated SNEPCo’s commitment to growing their assets, willingness to deliver big-ticket projects and exploit near-term opportunities to continually grow output volumes by working closely with NUIMS.

SNEPCo recently surpassed the one billion barrels of crude oil production milestone and is currently outperforming its production target for 2023 raising daily production output from approximately 90,000 BPD to 131,000 BPD.

Improvements were recorded from the onshore and swamp assets following the launch of the industry-wide security architecture.

Aiboni stated further that there is no reason Nigeria cannot grow its crude oil production output to four million barrels per day, leveraging on the vast array of prolific assets, especially in the deep water space.

While responding to the MD’s remark, Mr Wunti stated that Bonga has a special place in Nigeria’s Upstream space, and NUIMS remains committed, willing, and able to actively support SNEPCo to continue exceeding expectations.

Wunti reassured her of the commitment of NNPC and NUIMS to rewrite the history books and deliver bigger milestones.

He also used the opportunity to commend SNEPCo and the in-house Asset Management team for the job well done in collaborating with Baker Hughes to execute a Product Deployment Memorandum of Agreement (PDMOA) for the deployment of the novel Aptara C Tree in the Bonga field, placing NNPC, SNEPCo and by extension Nigeria on the global map of deepwater oil and gas technology.