New NNPC/First E&P Floating Storage Facility To Boost Oil Output by 60,000 bpd
Nigeria’s efforts to increase crude oil production have received a significant boost with the commissioning of the Abigail Joseph Floating Production Storage and Offloading (FPSO) facility, operated by the Nigerian National Petroleum Company Limited (NNPC) in partnership with First Exploration & Petroleum Development Company (First E&P). Located on OML 83/85, the FPSO is a key project in Nigeria’s drive to achieve its energy production targets.
Current and Future Production Goals
During an inspection of the facility in Bayelsa State on Wednesday, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, highlighted its strategic importance. The FPSO is currently producing 60,000 barrels per day (bpd), with plans to increase to 70,000 bpd in the near term and an ambitious target of 100,000 bpd in the future.
Lokpobiri commended the partnership between NNPC and First E&P, emphasizing its role in advancing Nigeria’s oil production capacity. “The Abigail Joseph FPSO demonstrates the transformative potential of indigenous-led partnerships and innovation in unlocking Nigeria’s hydrocarbon wealth,” he said.
Key Initiatives
The Abigail Joseph FPSO is part of a broader 23-well drilling campaign aimed at sustaining and enhancing production. Lokpobiri urged other indigenous operators to leverage ongoing reforms to contribute to Nigeria’s energy goals.
The Managing Director of First E&P, Ademola Adeyemi-Bero, reaffirmed the company’s commitment to surpassing production goals. He highlighted ongoing de-bottlenecking initiatives as critical to achieving the 100,000 bpd target.
Bala Wunti, the Chief Upstream Investment Officer (CUIO) of NNPC Upstream Investment Management Services (NUIMS), also reiterated the FPSO’s alignment with national objectives. “The achievements at Abigail Joseph FPSO are a testament to NNPC’s determination to deliver results through strategic partnerships,” he stated.
Conclusion
The Abigail Joseph FPSO reflects Nigeria’s commitment to harnessing its hydrocarbon resources through innovation and collaboration. With its current production and future targets, the facility is poised to make a significant impact on the country’s oil production capacity, bolstering economic growth and energy security.
