Production from the field which is located in shallow waters offshore Bayelsa State and operated by First E&P is expected to be at an average of 20,000 barrels per day.
Commenting on the development on Friday, Mele Kyari, the group chief executive officer of NNPC Ltd, described the commencement of oil production at the Madu Field as a significant milestone that will contribute to the larger goal of meeting the production required to drive revenue growth and boost the nation’s economy.
Kyari noted that the achievement was a testament to the commitment of President Bola Tinubu administration to optimise production from the nation’s oil and gas assets through the provision of an enabling environment for existing and prospective investors.
Commending the stakeholders for their support, Kyari said that the addition of 20,000 barrels per day by an indigenous oil player signals the commitment of stakeholders to achieving economic development for Nigeria.
The final investment decision (FID) on the development of the Madu Field and a sister field, Anyala, was taken by the NNPC Ltd/First E&P JV in 2018.
He also disclosed that production from the Madu Field will be processed at the JV’s Abigail-Joseph Floating Production Storage and Offloading (FPSO) unit, which has a crude oil storage capacity of up to 800,000bbls. (BusinessDay)
