The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its Joint Venture partner, Newcross Exploration and Production Ltd., have restarted crude oil production at the Awoba Field in Rivers State, marking the first production since 2021.
The announcement was made by NNPC spokesperson Olufemi Soneye, who highlighted that production resumed on April 13, 2024, after the field was shut down in February 2022 due to evacuation problems and crude oil theft.
Since its reactivation, the Awoba Field has been producing an average of 8,000 barrels per day, with expectations to reach a steady output of 12,000 barrels per day within 30 days. This development comes amid Nigeria’s declining crude oil production, which dropped to 23 million barrels per day in March, according to OPEC’s monthly oil market report. This marks the third consecutive month that Nigeria’s oil production has fallen below the budget benchmark of 1.78 million barrels per day.
Source: Punch