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The Niger Delta Intelligentsia Team (NDIT), a network of intellectual crusaders and advocates for enlightenment in the oil and gas-producing areas of the Niger Delta, has praised President Bola Tinubu, the Nigerian National Petroleum Company Limited (NNPCL), and the management of Pipeline Infrastructure Nigeria Ltd (PINL) for their pragmatic efforts in increasing the nation’s crude oil and gas production.
The NNPCL recently announced that Nigeria’s crude oil and gas production had reached its highest levels in 15 years, with crude oil output rising from 1.35 million barrels per day (mbpd) to 1.8 mbpd, and natural gas production increasing from 5.5 billion standard cubic feet per day (scfpd) to 7.4 billion scfpd.
In a press statement signed by Japhet Ogbueri, President, and Nse Victor Udoh, General Secretary of the NDIT, and made available to our correspondent in Port Harcourt, the organization noted that the Tinubu administration has implemented pragmatic operational policies and holistic frameworks that have sustained business activities in the sector, despite the challenges posed by the high foreign exchange rates affecting oil and gas ventures.
The group also commended the NNPCL’s management for its dynamic, innovative, resourceful, and professional administration, which has fostered increased joint venture partnerships and opened foreign investment opportunities in the oil and gas sector.
It highlighted the recent announcement of the increase in the nation’s crude oil production, which jumped from 1.35 mbpd to 1.8 mbpd, and the rise in natural gas production from 5.5 billion scfpd to 7.4 billion scfpd, as particularly noteworthy. This marks the highest production quota in the past 15 years.
“Just recently, NNPCL secured a $550 million Final Investment Decision (FID) for the Ubeta Development Project, discovered in 1964 but abandoned by previous administrations. This project, located in Rivers State, is a significant milestone,” the NDIT stated.
The organization also lauded NNPCL’s commitment to monetizing Nigeria’s vast natural gas resources, as demonstrated by its multimillion-dollar Project Development Agreement (PDA) with Golar LNG for the deployment of Floating Liquefied Natural Gas (FLNG) offshore in the Niger Delta region, among other initiatives.
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The group added:
“These commendable strides have continued to evolve positively, despite global oil challenges caused by the ongoing wars between Russia and Ukraine, as well as Israel and some Arab nations.
“This progress has translated into increased foreign revenue generation, Direct Foreign Investment (DFI) inflows, and associated profitable ventures, benefiting Nigeria and Nigerians alike.”
NDIT further acknowledged and applauded the critical roles played by other industry stakeholders, such as Pipeline Infrastructure Nigeria Ltd (PINL), in achieving this milestone.
The statement read:
“Stakeholders and the leadership of the Niger Delta Intelligentsia Team (NDIT) wish to extend special recognition to Pipeline Infrastructure Nigeria Ltd (PINL) for its significant contributions, particularly in deploying state-of-the-art surveillance equipment for the advanced security of oil and gas facilities. PINL has been instrumental in curbing pipeline vandalism and crude oil theft in its Area of Responsibility (AoR), which were the primary challenges hindering profitable, safe, and crisis-free oil and gas exploration in the Niger Delta region.
“PINL is a key reason behind the nation’s increasing crude oil and natural gas production. Its efforts have fostered a safe and secure operational environment, with near-elimination of oil theft and facility sabotage.
“The commitment of PINL’s management to fulfilling its contract agreements is the backbone of the anticipated further increase in crude oil production, projected to peak at 2 mbpd by December 2024.”
NDIT also commended PINL for its quick response in providing relief materials to flood victims across Rivers and Bayelsa states, as well as its empowerment initiatives, job creation, and other Corporate Social Responsibility (CSR) programs benefiting host communities.
