How Rising Oil Output May Help FG Achieve Its Income Objective

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The Nigerian National Petroleum Company Limited’s Group Chief Executive Officer, Mele Kyari, recently stated that the nation was on its way to achieving the 1.8 million barrels per day (mb/d) crude oil production target set by OPEC during the official cutover ceremony for transforming NNPC to NNPCL in Abuja.

Due to pipeline damage and oil theft, the nation has been unable to reach OPEC output targets for the previous two years. The same goes for Shell, which has offered more than a dozen turnkey contracts for work in the Niger Delta.

As of January 11, prequalification paperwork had been submitted for 13 contracts, most of which are engineering, procurement, and construction packages.

Hawilti had projected that in 2023 there will be an upstream renaissance and the beginning of multiple multi-well drilling programs in Nigeria and other major African producers.
The company estimates that over the year, Africa would host at least 26 drilling missions and rigs.

Many 2D and 3D seismic data blocks, including multi-beam and analog data, are present in the blocks.
The mini-bid round, according to Komolafe, aims to build on the achievements of the previous round of bidding, which took place in April 2007 and included the offering of 45 blocks from the Niger Delta Continental Shelf, the Onshore Niger Delta, Deep Offshore, and the Inland Basins of Anambra, Benue, and Chad.

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