The Nigerian National Petroleum Company Limited, NNPCL, has unveiled its plans of 2 million Barrels Per Day (bpd) oil production by 2027.
Group Chief Executive Officer of NNPC, Bayo Ojulari, disclosed this on Tuesday at the “Energy Talk” session of the ongoing Abu Dhabi International Petroleum Exhibition and Conference, ADIPEC 2025, taking place in Abu Dhabi, United Arab Emirates, UAE.
While answering questions from the host and Pulitzer Prize-winning energy author, Daniel Yergin, Ojulari said that NNPC has increased Nigeria’s oil output to 1.7 million barrels per day, with targets of 2 million bpd by 2027 and 3 million bpd in the long term, a growth that is driven by redefined relationships with Independent Oil Companies, IOCs, and independents, removing legacy blockers and aligning on shared value.
He reiterated the commitment of the company to working with the Organisation of Petroleum Exporting Countries, OPEC, peers, African National Oil Companies, NOCs, and financial institutions to attract $30 – $60 billion in fresh investment by 2030.
According to him, new government incentives beyond the Petroleum Industry Act, PIA, are already attracting capital for deep-water exploration, dry gas development, and cost reduction.
“Africa’s energy future must be built on pragmatism, partnerships, and purpose. At NNPC Limited, we are not just participating in the energy transition, we are shaping it from an African perspective.
“Our focus is pragmatic: grow production, monetize gas, deepen partnerships, and deliver value to Nigerians and global partners alike.
“Our message to the world is clear: Nigeria is open for business, and NNPC Limited is fit for the future and we invite the world to co-invest in Africa’s energy transformation,” he said.
Leave a Reply