Nigeria Must Increase Oil Production To 4m Barrels Per Day-SNEPCo

The Managing Director, Shell Nigeria Exploration and Production Company, SNEPCo, Mrs Elohor Aiboni, has said there is no reason for Nigeria not to grow its crude oil production output to four million barrels per day.
This, according to her, is because of the country’s array of prolific assets in the deep water space.
Aiboni made this known in her address at the NNPC NUIMS 2023 Annual Assurance Review held in Lagos.
The Organisation of Petroleum Exporting Countries (OPEC) puts Nigeria’s crude oil production output at 1.353m.
Aiboni noted that SNEPCo had already surpassed the one billion barrels of crude oil production milestone and was currently outperforming its production target for 2023, raising daily production output from 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.
“Also, activities in the deepwater space have also picked up contributing to the overall improvement in production,” she said.
Aiboni expressed appreciation to the leadership of the Nigerian National Petroleum Company Limited and the NNPC Upstream Investment Management Services for the level of collaboration geared towards maximising the potential of the deepwater assets and delivering key projects.
The Shell MD restated the company’s commitment to growing its assets, willingness to deliver big-ticket projects and exploit near-term opportunities to continually grow output volumes.
Responding to the MD’s remark, the Chief, Upstream Investment Officer, Mr Bala Wunti, said that NUIMS remains committed, willing and able to actively support SNEPCo to continue exceeding expectations.
Wunti reassured of the commitment of NNPC and NUIMS to rewrite the history books and deliver bigger milestones.