Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), has reaffirmed the Federal Government of Nigeria’s commitment to supporting the NNPC Limited/FIRST Exploration & Petroleum Development Company Limited (FIRST E&P) Joint Venture (JV) in achieving its ambitious target of producing 100,000 barrels of oil per day (bpd)......READ THE FULL STORY>>.....READ THE FULL STORY>>
The Minister made this declaration during an engagement with the JV, which included a tour of its offshore drilling and production facilities in the Niger Delta, according to a statement made available to BusinessDay.
The two-day visit was designed to provide the Minister firsthand insight into the JV’s operations and underscore its contributions to Nigeria’s energy security and transition goals.
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The visit commenced with a tour of the Abigail-Joseph, the JV’s Floating Production Storage and Offloading (FPSO) vessel, followed by inspections of the Anyala Oil Mining License (OML) 83 and Madu OML 85 Conductor Supported Platforms (CSPs) on Tuesday, November 19, 2024.
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The Minister’s itinerary also included visiting the JV’s Ogu Logistics Base and a Host Community Stakeholders Engagement meeting in Yenagoa, Bayelsa State.
Describing his tour as quite strategic to Nigeria, the Minister disclosed that by meeting this ambitious 100,000 BOPD target, the JV would be helping the Federal Government achieve its production goal of 2.5 million bpd by 2025.
The Minister also praised FIRST E&P for its role in Nigeria’s recent achievement of 1.8 million BOPD and highlighted the strategic significance of the company’s operations to national growth.
During an engagement held with the Minister, Ademola Adeyemi-Bero, FIRST E&P’s Managing Director, reaffirmed the company’s commitment to supporting the Federal Government in achieving its target by maximising production, optimising efficiency, and contributing to Nigeria’s energy security through the NNPCL/FIRST E&P JV partnership.
“For a nation like Nigeria, where oil and gas remain critical drivers of socio-economic growth, ensuring a sustainable energy supply is essential for industrialisation, economic diversification, and improving the quality of life for millions.
“At FIRST E&P, our vision is strongly aligned with the national priorities for production. With a steady output of 56,000 BOPD, we are focused on achieving our medium-term target of surpassing 100,000 BOPD”, stated Adeyemi-Bero.
Bala Wunti, the Chief Upstream Investment Officer of NNPC Upstream Investment Management Services (NUIMS), represented by Olanrewaju Igandan, Head of Joint Venture Investment Management at NUIMS, applauded FIRST E&P and its partners for their remarkable achievements over the past decade.
He highlighted that since achieving its first oil in 2020, the partnership has produced over 50 million barrels of oil, significantly contributing to national revenue through royalties, taxes, and host community development initiatives.
While commending the JV, Douye Diri, the Bayelsa State Governor, represented by Peter Akpe, Chief of Staff, called for greater collaboration between the Federal Government, oil companies, and state authorities to boost production.
Speaking during the Host Community Stakeholders Engagement meeting, Moses Theophilus, Chairman, KEFFESO Host Communities Development Trust (KHCDT), Amadabo of Moko-ama, Sangana Kingdom, commended the management of the JV for their invaluable support to the host communities through various initiatives in the areas of education, health care, and human capital development.
Lokpobiri commended the JV host communities for creating a peaceful and supportive environment that has enabled the company to operate smoothly without disruptions.
He urged the communities to continue collaborating with the company, emphasising that their support is crucial for increasing production and achieving the ambitious targets.
Reassuring stakeholders, he reaffirmed the Federal Government’s commitment to enhancing Nigeria’s investment climate and ensuring the nation remains globally competitive in the oil and gas sector.
