NNPC Ltd., in collaboration with its Joint Venture partner, First Exploration and Petroleum Development Company Limited (First E&P), has commenced oil production at OML 85, commonly referred to as the Madu Field. Located in shallow waters offshore Bayelsa State, this achievement marks the realization of an average production rate of 20,000 barrels per day.
Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., underscored the significance of this development, emphasizing the strategic efforts of the administration led by President Bola Tinubu to optimize production from the nation’s oil and gas resources.
Mele Kyari, Group Chief Executive Officer of NNPC Ltd., hailed the commencement of production at the Madu Field as a notable milestone contributing to the overarching objective of enhancing revenue generation and fortifying the nation’s economy. He expressed gratitude to all stakeholders for their support and highlighted the addition of 20,000 barrels per day by an indigenous oil player as a testament to stakeholders’ dedication to Nigeria’s economic advancement.
It is pertinent to note that the Final Investment Decision (FID) for the development of the Madu Field and its counterpart, Anyala, was executed by the NNPC Ltd./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 (FPSO) Unit, boasting a crude oil storage capacity of up to 800,000 barrels.
