The Nigerian National Petroleum Corporation (NNPC) has achieved a significant milestone in its efforts to boost crude oil production, with the Abigail Joseph Floating Production Storage and Offloading (FPSO) now ramping up output to 60,000 barrels per day (bpd). Operated by NNPC in partnership with First E&P Joint Venture (JV) on OML 83/85, the facility is on track to increase production to 70,000 bpd in the near future, with plans to reach 100,000 bpd in the coming years.
During an inspection offshore Bayelsa State on Wednesday, Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, praised the progress of the Abigail Joseph FPSO, highlighting the ongoing efforts to meet Nigeria’s national production targets. He also commended First E&P’s ambitious 23-well drilling campaign aimed at sustaining and enhancing output.
“It is truly impressive to see such commitment from NNPC and First E&P, and this will play a critical role in achieving our national oil production objectives,” said Lokpobiri, emphasizing the importance of indigenous partnerships in driving growth in Nigeria’s oil sector. He urged other operators to seize the opportunities presented by ongoing reforms to further the country’s energy goals.
First E&P’s Managing Director, Nicholas Foucart, expressed confidence in the project’s success, emphasizing the company’s commitment to surpassing production goals. “We are fully committed to reaching 70,000 bpd and eventually 100,000 bpd, with the ongoing support of our partners,” he stated.
In a related development, NNPC has officially launched the Utapate crude oil blend on the global market, marking a major boost to Nigeria’s oil production and export capacity. The blend, produced in partnership with Sterling Oil Exploration & Energy Production Company (SEEPCO), made its debut in July 2024, with the first cargo of 950,000 barrels heading to Spain.
NNPC’s Managing Director of E&P, Nicholas Foucart, highlighted the rapid growth of Utapate crude production, which has already reached 40,000 bpd, with plans to increase this to 50,000 bpd by January 2025, and 60,000-65,000 bpd by June 2025. The field, located in OML 13 in Akwa Ibom State, is expected to hit 80,000 bpd by the end of 2025.
The Utapate crude blend has been well-received by international buyers due to its low sulfur content and attractive refining qualities. The blend’s pricing structure mirrors that of the Amenam crude, making it highly sought after by refineries in Europe and the US East Coast.
NNPC Trading Ltd’s Managing Director, Lawal Sade, said that the Utapate blend would be marketed through long-term contracts, aiming to ensure a predictable and sustainable supply to international refineries.
The launch of Utapate crude comes just a year after the debut of the Nembe crude oil blend, further demonstrating NNPC’s commitment to increasing Nigeria’s oil reserves and production capacity through new field developments and partnerships.
