The Nigerian National Petroleum Company Limited (NNPCL) and its partner, First Exploration and Petroleum Development Company Limited (First E&P), have successfully commenced oil production from the Madu Field (OML 85) located in shallow waters offshore Bayelsa State.
This significant achievement is expected to reach 20,000 barrels in average daily production.
According to NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, this development is a crucial step towards boosting revenue growth and driving the nation’s economy.
NNPCL’s Group Chief Executive Officer, Mele Kyari, praised the commencement of production, attributing it to the supportive environment created by President Bola Tinubu’s administration, which has encouraged investment in the oil and gas sector.
Kyari commended stakeholders for their contributions and highlighted the significance of indigenous oil players like First E&P, which is contributing 20,000 barrels per day to the nation’s oil production.
The Madu Field and its sister field, Anyala, were approved for development in 2018, and production will be processed at the Abigail-Joseph Floating Production Storage and Offloading Unit, which has a storage capacity of up to 800,000 barrels of crude oil.
