NPDC to become Nigeria’s leading daily oil producer, builds 330,000mtpd gas plant
One of the subsidiaries of Nigerian National Petroleum Corporation (NNPC), the Nigerian Petroleum Development Company (NPDC), is set to deepen daily production of crude oil to half a million barrels to assume the plum position of the country’s leading producer.
The Group Managing Director of the Corporation, Dr. Maikanti Baru made the revelation weekend in Benin City.
This is as the Managing Director of NPDC, Yusuf Matashi, said the company has concluded plans to establish liquefied petroleum gas plant with a capacity of 330,000 metric tons per day, noting that the plant would supply about 40 per cent of the country’s LPG demand by producing 1,000 trucks per day.
The company currently produces about 230 thousand barrel per day of the output, which stood at 2.25 million barrel earlier in the year.
Explaining more at the just concluded 18th Annual General Meeting of NPDC in Benin City, Baru observed that NPDC’s performance within the period under review was satisfactory, stressing that the key target of the Corporation is to make the upstream subsidiary the number one exploration and production company in Nigeria.
According to him, “It is encouraging and the company is on a growth path and its processes and procedures fully in line to ensure that it delivers on its mandate set by NNPC.”
“NPDC production level was significantly growing and would soon hit the 500,000barrel per day (b/d) target from its current 230,000b/d, which would almost make it the highest producers in the country.
Matashi added that his company is one of the upstream subsidiaries of the NNPC. Established in 1988, the company began its operations from the Oredo field and as of today, is among the top four E&P companies as well as the largest supplier of domestic gas to industries in Nigeria.
Business Hilights recalls that since recently, there has been a strong case for the use of LPG in domestic cooking considering the gas reserves and production potentials of the country.
