Nigeria Produced 445million Barrels of Crude Oil in Seven Months
Nigeria produced 445 million barrels of crude oil and condensates from January to July 2015, a monthly report of the activities of the Nigerian National Petroleum Corporation (NNPC) has shown.
The report, which was released by the NNPC in Abuja, also showed that within the same period, a total of 1,677 billion cubic feet (bcf) of gas was produced and sold in the domestic and export markets.
It explained that a total of 67.49 million barrels of crude oil and condensate was produced in July 2015, translating to an average daily production of 2.177 million barrels per day (mbpd).
An aggregate 445 million barrels of oil was produced from January to July 2015, representing an average daily production of 2.099 million barrels for the same period.
NNPC noted that leading the production ratio are productions from Joint Ventures (JVs) and Production Sharing Contracts (PSC), which contributed up to 31.5 per cent and 42 per cent respectively to the total production.
The report showed that in January 68,066,511 million barrels and 2,195,694 million barrels per day (bpd) were produced; February had 61,860,923 million barrels and 2,209,319 mbpd, March- 64,156,149mb and 2,069,553 mbpd, while April had 60,841,276mb and 2,028,043mbpd.
For the month of May, production figures of 63,489,099mb and 2,048,035mbpd were reported.
Hydrocarbon production however slid slightly to 59,086,856mb and 1,969,562mbpd in June, and picked up to 67,499,556mb and 2,177,405mbpd in July.
The production contributory figures of the JVs, PSCs, Alternative financing/Modified Carry Agreement (Af/MCA), Nigeria Petroleum Development Company (NPDC) and Independents/Marginal Fields were 140,055,983mb, 186,758,427mb, 71,991,769mb, 23,017,244mb and 23,176,947mb, respectively.
For gas, NNPC said that a total amount of 225 bcf of natural gas was produced for the month of July 2015 translating to an average daily production of 8,233 mmscf/d.
From January to July 2015, a total of 1,677bcf of gas was produced representing an average daily production of 7,908mmscfd for the same period was produced.