…Says 3mbpd 2030 target achievable
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has opened a 90-day fast-track window for approving oil wells, Field Development Plans (FDPs), rig mobilisations, and other quick-win opportunities, to meet the two million barrels per day (mbpd) and three mbpd crude oil production targets for 2027 and 2030 respectively.
The NUPRC chief executive, Oritsemeyiwa Eyesan, announced this during a stakeholder meeting in Lagos on Wednesday.
Speaking at the meeting attended by Oil Producers Trade Section (OPTS), Independent Petroleum Producers Group (IPPG) which are both key industry associations in Nigeria’s oil and gas sector; emerging players, and major industry operators, Eyesan stated that the initiative aligned with President Tinubu’s renewed hope agenda, declaring the 3mmbopd target by 2030 achievable through production optimisation and swift regulatory decisions.
Eyesan unveiled her upstream transformation vision, resting on three pillars: production optimisation with revenue expansion via shut-in recovery and decline arrest; regulatory predictability through service-like efficiency and time-bound approvals; and safe, sustainable operations emphasising HSE, governance, and decarbonisation.
“On the Commission’s part, a 90-day programme to fast track approvals for near-ready FDPs, well interventions, rig mobilisation and other quick-win opportunities have commenced,” the NUPRC boss stated, urging operators to submit matured projects by end of Q1 2026.
The NUPRC boss plans on increasing production and revenue expansion through the recovery of shut-in volumes with economic value, arresting decline, reducing losses, and accelerating time-to-first oil—without increasing burdens or transaction cost.
SOURCE: LEADERSHIP NEWS PAPER
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