Nigerian National Petroleum Co Ltd (NNPC) averaged 1.37 million barrels per day (MMbpd) in crude production in the first three quarters, according to provisional figures published by the state-owned company on Tuesday.
September’s oil output of 1.37 MMbpd represented the third consecutive month of decline, according to NNPC’s monthly report.
Oil and condensate production totaled 1.61 MMbpd last month, with condensate accounting for 240,000 bpd. NNPC’s peak oil and condensate production in 2025 so far was 1.77 MMbpd.
NNPC sold 17.81 million barrels of crude September, down for the second consecutive month.
Its natural gas production and sales stood at 6.28 billion standard cubic feet a day (Bscfd) and 3.44 Bscfd in September respectively, both down for the second consecutive month.
“Production levels during the period were temporarily moderated due to planned maintenance activities including those at NLNG alongside the phased recovery of previously shut-in assets and delays in the commencement of operations at OMLs 71 and 72”, the report said.
NNPC reported a 77 percent petrol availability at its stations. NNPC’s upstream pipeline availability was 96 percent.
NNPC logged NGN 4.27 trillion ($2.91 billion) in revenue for September. Profit after tax was NGN 216 billion. The company reported “statutory payments” of NGN 10.07 trillion.
On the Ajaokuta-Kaduna-Kano Gas Pipeline project, the report said, “Sustained focus is being directed towards completion of the mainline works with substantial progress being recorded”. NNPC said in a press release July 1 the project was on track for completion by yearend.
On the Obiafu-Obrikom-Oben (OB3) Gas Pipeline project, the report said the execution plan was being revised “to ensure delivery within target timelines”.
“113km portion of OB3 Gas Pipeline has been commissioned and flowing circa 300 MMscfd of gas”, the report added.
In other developments, Shell PLC earlier this month announced a final investment decision (FID) to develop the HI field to supply up to 350 MMscfd to Nigeria LNG.
The project is part of a joint venture in which Shell owns 40 percent and Sunlink Energies and Resources Ltd holds 60 percent. At Nigeria LNG, which has a declared capacity of 22 million metric tons of liquefied natural gas a year, Shell owns 25.6 percent.
HI is estimated to hold about 285 million barrels of oil equivalent, according to the British energy giant. The field, discovered 1985, lies 50 kilometers (31.07 miles) from shore in waters 100 meters (328.08 feet) deep, according to Shell.
“Following recent investment decisions related to the Bonga deepwater development, today’s announcement demonstrates our continued commitment to Nigeria’s energy sector, with a focus on deepwater and integrated gas,” Shell upstream president Peter Costello said in a company statement October 14. “This upstream project will help Shell grow our leading integrated gas portfolio, while supporting Nigeria’s plans to become a more significant player in the global LNG market”.
To contact the author, email jov.onsat@rigzone.com
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