NNPC Commences Oil Extraction in Madu Field

NNPC Ltd and its Joint Venture partner, First Exploration and Petroleum Development Company Limited (First E&P), have initiated oil production from the Madu field, situated in shallow waters off the coast of Bayelsa State.

According to a statement released by NNPC’s Chief Corporate Communications Officer, Olufemi O. Soneye, the production from the Madu field, operated by First E&P, is projected to average around 20,000 barrels per day. This achievement underscores the commitment of President Bola Tinubu’s administration to optimize oil and gas production by fostering an enabling environment for investors.

Mele Kyari, the Group Chief Executive Officer of NNPC Ltd, hailed the commencement of oil production at the Madu field as a significant milestone. Kyari emphasized its contribution to meeting production targets for revenue growth and economic development, commending the support of stakeholders in achieving this feat. The addition of 20,000 barrels per day by an indigenous oil player reflects the dedication of stakeholders to Nigeria’s economic advancement.