Nigeria Targets 300,000 Bpd Oil Output from New Blocks
Nigeria's upstream petroleum regulatory commission is targeting a minimum of 300,000 barrels per day (bpd) of crude oil and condensate production within three years from new 37 blocks.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) chief executive, Mrs. Oritsemeyiwa Eyesan, stated this at the Commercial Bid Conference for the Nigeria 2025 Licensing Round in Abuja.
She added that these assets have the potential to add about 500 million barrels to Nigeria's reserves, increasing its existing reserves of crude oil and condensate currently standing at 37.01 billion barrels.
Eyesan noted that once successfully developed, these blocks were expected to contribute a minimum of 300,000 bpd of crude oil and condensate over the next three years.