Nigeria Is Producing 1.78 Million Barrels Of Crude Per Day - Kachikwu
Nigeria is targeting crude production of about 2.1 million barrels per day, bdp in 2019.
But at the moment, it is producing 1.78 million barrels of crude oil bpd, according to Minister of State for Petroleum, Ibe Kachikwu.
Kachikwu said on Wednesday that Nigeria was expecting output from Egina oilfield to reach 150,000 bpd by the end of the month which could boost total production.
“The work that we have at the ministry is to determine what component of that 150,000 barrels is pure crude and what condensates,” he told reporters in Abuja, after a cabinet meeting.
“If it is pure crude it raises certain other implications in terms of the OPEC quota. If it is condensates, then obviously we smile.”
With production cuts agreed by the Organization of the Petroleum Exporting Countries, Nigeria’s output has been around 1.74 million, excluding extremely light oil known as condensates. The minister said Nigeria produced condensates of 350,000 bpd.
The minister also said the cabinet approved a contract to replace a crude pipeline for Opkoho and Okono fields on OML 119 for $37 million to help boost output.
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