In line with the Nigeria unequivocal objective, utmost aspiration and commitment in ramping up her crude oil production towards a robust economic infrastructural development, the Minister of State for Petroleum Dr. Heineken Lokpobiri has restated optimism towards the country’s efforts to increase her crude oil production level in 2024 drilling campaign reason.

In a recent disclosure via his twitter handle, Dr. Heineken stated that he has embarked on wide consultative and engagement discussions with various stakeholders especially the International Oil Companies (IOC’s) in the nation’s upstream sector to proffer solution on grey areas which have major roles to play in achieving a higher volume in crude oil production.

“I have engaged with key industry players and a critical point emerged — the collaborative push towards enhanced crude production and I have actively engaged stakeholders to bolster our efforts. Heineken Lokpobiri stated.

The Minister further reiterated that the passage of the nation’s Petroleum Industrial Act (PIA) and present government Administration unalloyed efforts have created an enabling and conducive environment for upstream investors to operate progressively and profitably in their various business endeavors.

“During these discussions, I conveyed President Tinubu’s anticipation for dialogues centered on productivity enhancement especially as the Petroleum Industry Act (PIA) has catalyzed a transformative shift in our sector, aligning interests across the board,” The Minister added.

TotalEnergies is one of the nation’s upstream companies that have expressed its utmost commitment towards embarking on numerous projects this 2024. TotalEnergies has in different forums and events expressed the company’s plan to kick off various major upstream projects including the long awaited UBETA project.

“A confidential exchange with Total Energies solidified their commitment to drill, and I assured of our readiness to fast-track all processes. Our commitment is resolute, aiming for swift implementation and aligning efforts with national goals. As we traverse this collaborative journey, the shared vision is clear.

Dr Heineken Lokpobiri further pinpoints partnership with great sense of purpose and clear vision as bedrock in achieving positive results in the sector.

“A thriving oil sector will benefit all stakeholders and looking ahead into 2024, our focus extends to forging partnerships with various International Oil Companies (IOCs), aligning with our vision for increased crude production,” The Minister emphasized.

Nigeria in recent times has been experiencing difficult challenges in ramping up her crude oil production level. Such challenges include security and force majeure and the nation is relenting in putting various proactive measures together in eliminating these obstacles.

Pipeline surveillance contracts to private security companies and resolution of pending and lingering legal tussles with joint venture partners are deployed by the Federal Government to take care of these challenges to guarantee the projected level of crude oil production.

In other vein, according the state oil company boss Mallam Mele Kyari, Nigeria current crude oil production is approximately 1.78 barrels per day. He stated: “The number we have is 1.785mbpd. This is cumulative of all oil produced in the country. This figure is inclusive of all production including crude oil and condensate. I need to make this clarification because of the reports in the media that our OPEC quota is 1.5million barrels per day. The OPEC quota is related only to crude oil. We also do between 250,000 to 300,000 barrels per day of condensate in our production. When you combine the two, the 1.78mbpd is realistic and realisable.”

Apart from bolstering her economy through increase in crude oil production, there is serious need to meet up her local demand in servicing local refineries. The African largest refinery plant has just taken off at Lekki Nigeria and it is an obligation of the oil rich nation to supply the 650,000 barrels per day Dangote refinery plant with its feed stock.