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Home Energy

NNPC and Natural Oilfield Services Commence Oil Production at OML 13 in Akwa Ibom State

Business 360 by Business 360
May 13, 2024
in Energy
0
NNPCL to Prepay Future Royalties and Taxes in $3.3bn Financing Deal with Afreximbank

The Nigerian National Petroleum Company Exploration and Production Limited (NNPC E&P Ltd) and Natural Oilfield Services Limited (NOSL) have announced the commencement of oil production at Oil Mining Lease 13 (OML 13) in Akwa Ibom State. The milestone was revealed in a statement signed by NNPC E&P Ltd’s spokesperson, Olufemi Soneye.

NNPC E&P Ltd, the flagship upstream subsidiary of the Nigerian National Petroleum Corporation (NNPC), collaborated with NOSL, a subsidiary of Sterling Oil Exploration & Energy Production Company Limited, to enhance crude oil production for the nation.

“The production, which commenced on May 6, 2024, with 6,000 barrels of oil, is expected to be ramped up to 40,000 barrels per day by May 27, 2024,” stated Soneye.

He emphasized that the commencement of oil flow from OML 13 represents a historic milestone in the partnership between NNPC E&P Ltd and NOSL. This achievement underscores their commitment to driving growth and development in Nigeria’s oil and gas sector, which remains a vital component of the nation’s economy.

Soneye further highlighted the significance of the achievement for the host communities, noting that it signifies a new era of economic empowerment and development opportunities.

“The first oil from OML 13 holds significant importance for Nigeria as it contributes to the country’s efforts to increase its oil production capacity,” Soneye affirmed.

Experts in the sector describe the commencement of oil production at OML 13 as one that reflects the collaborative efforts of NNPC E&P Ltd and NOSL, underscoring their dedication to advancing Nigeria’s oil and gas industry while fostering economic development in the region as stakeholders anticipate positive impacts on both the local communities and the nation’s overall oil output with production set to ramp up in the coming weeks.

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