Nigeria's NNPC, First E&P venture produce 20,000 barrels of crude at OML 85 [Yahoo! Finance]
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Source: Yahoo! Finance
at OML 85 and achieved 20,000 barrels per day (bps) output, the state-oil firm said in a statement on Friday. OML 85 was one of two blocks sold to First Exploration and Petroleum Development Company Limited (First E&P) in 2015 by Chevron. That and OML 83 are located between 30 to 40 km offshore in the central Niger Delta, where water depths range from 15 to 50 metres. OML 83 contains the Anyala field and OML 85 contains the Madu field. Nigeria is trying to boost oil production, especially from fields which oil majors sold to local firms, in a bid to exit onshore drilling in the Niger Delta, a region rife with oil theft, pipeline vandalism and host community problems including spills. NNPC's chief executive, Mele Kyari, said the commencement of oil production at the Madu Field will contribute to the goal of meeting the production required to drive revenue growth and boost the economy. In November, Nigeria was pumping close to its 2024 OPEC quota of 1.38 million bpd but less t
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