Crude production: NNPC targets 3million bpd in 2030

Crude production: NNPC targets 3million bpd in 2030

By Ade Ade

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has reiterated that the country is on course to ramp up crude oil output to two million barrels per day (bpd) by 2027 and three million bpd by 2030.

Executive Vice President, Upstream, Mr. Udy Ntia, gave the assurance on Monday at the ongoing 2025 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).

The News Agency of Nigeria (NAN) reports that ADIPEC, the world’s largest energy exhibition and conference, is hosted by the Abu Dhabi National Oil Company (ADNOC). Now in its 41st edition, the event, themed “Energy. Intelligence. Impact,” runs from Nov. 3 to 6 and convenes global stakeholders across the energy, technology, and finance sectors.

Speaking during a session titled “Beyond the Barrel: The Future of Upstream Strategy,” Ntia said NNPC’s growth plan for the upstream sector is anchored on collaboration, technology, efficiency, and decarbonisation.

“Nigeria’s upstream sector is evolving through a mix of collaboration, co-investments and smarter capital deployment, not competition. It’s not just about producing more oil, but producing better oil — cleaner, more efficient and more profitable,” he said.

He added that the sector is steadily expanding capacity while working to reduce the environmental footprint of fossil fuels.

Ntia identified three key forces shaping the upstream landscape in Nigeria and globally: energy transition pressures, industry fragmentation, and technological transformation. He noted that innovation, particularly artificial intelligence and digital tools, would drive efficiency and unlock value from mature fields.

“We see technology as an enabler to extract more, improve efficiency and guide smarter capital decisions,” he said.

On energy transition and decarbonisation, Ntia stressed NNPC Ltd.’s commitment to cutting emissions while ensuring responsible oil output. He noted that Africa contributes less than three per cent of global emissions, insisting the continent can produce responsibly while decarbonising.

He highlighted ongoing gas-focused initiatives — including flare monetisation, regulatory compliance partnerships and major pipeline projects such as the Nigeria-Morocco Gas Pipeline — as well as new pipeline links to demand hubs in northern and western Nigeria. He also cited refinery optimisation and hybrid co-investment models for upstream development.

“Co-investment is the new financing frontier. We are stepping in to make projects bankable and accelerate decision-making in this rapidly changing environment,” he added.

Ntia called for stronger collaboration between National Oil Companies (NOCs) and International Oil Companies (IOCs), describing them as partners, not competitors.

“We all want profitability, sustainability and growth. The question is how to expand the pie so everyone benefits,” he said.

He reaffirmed that Nigeria’s upstream strategy is designed to balance energy security, profit, and climate responsibility, positioning the country’s hydrocarbon resources to remain relevant in a transitioning global energy landscape.