Nigeria's oil production has increased to 1.9 million bpd, as the government begins move for talks with Niger Delta leaders to end militancy in the region and increase oil production, the oil ministry said.
According to the special adviser on international energy relations to Nigeria's oil minister of state, Omar Farouk, Nigeria was in serious need of new investments to increase its reserve base and output. “We have built capacity of up to 2.4 million b/d, but [we are] currently producing about 1.9 million b/d. Nigeria has produced over 10 billion barrels of oil since the year 2000. However, we have not discovered this much in the same period,” he said.
Based on government’s estimates, Nigeria’s oil output dropped to almost a 30-year lows of around 1.5 million to 1.6 million bpd in August, from the 2.2 million bpd being produced earlier in the year as attacks on oil facilities in the Niger Delta increased. The drop in oil production has badly affected Nigeria's economy, which was already worsened by the fall in global oil prices.
The Nigerian National Petroleum Corporation (NNPC) and oil ministry officials have said that they expect the country's oil output to increase to around 2 million bpd by 2016 ending, Platts news reports.
Meanwhile, the Niger Delta Avengers has said that it attacked Chevron’s Escravos export pipeline in the region and has warned international oil companies (IOCs) not to perform renovation on damaged energy infrastructure. “This action is to further warn all IOCs that when we warn that there should be no repairs pending negotiation/dialogue with the people of the Niger Delta, it means there should be no repairs,” it said on its website.
It said any effort to use talks with the government as a distraction will terminate the dialogue process.
Anita Fatunji