Lokpobiri Assures Of Nigeria's Capacity To Rump Up Crude Oil.

 

The Minister of State for Mineral Resources (Oil), Heineken Lokpobiri has assured that Nigeria has the capacity to ramp up crude oil production above 2.5mbpd.

He said that  provided  the country has more investment in the oil sector and can create a conducive environment for investors to thrive.

Speaking at Abuja  on Monday when he took part at the launch of the Project 1MMBOPD Initiative, marking the 3rd anniversary of the NUPRC, Lokpobiri disclosed that the country has the potential to surpass the current 2.5mbpd.

He said:"We drive more investment into the oil sector and create a conducive operating environment for investors, of which we have been active on."

"With our current production level that  stands at approximately 1.7 mbpd, including condensates, and given the infrastructure and capacity available, we have the potential to surpass this target."

" This is  with  collaboration between Government, industry leadership and the private sector as we implement the PIA to boost investor confidence and foster an environment where investments can thrive." 

"Our indigenous private sector can pool resources to invest in underutilized oil wells, fields and other shores, and compete with the IOCs who are going deep offshore."

"By prioritizing problem-solving actions and working together, we can fully realize the potential of Nigeria’s oil industry and accelerate the nation's economic transformation."He assured.