Nigeria Targets 3m BPD Oil Production by 2030: Petroleum Engineers Lined Up

The Nigerian government has set its sights on increasing crude oil production to three million barrels per day by 2030, and is counting on petroleum engineers and industry professionals to help make it happen.

At the inauguration of the new National Chairman of the Nigerian Institution of Petroleum Engineers (NIPetE) in Abuja, Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, emphasized the importance of collaboration between stakeholders across the oil and gas value chain to achieve this ambitious target.

Lokpobiri noted that his administration has taken deliberate steps to expand oil production and develop infrastructure required to handle increased volumes. He mentioned that 31 companies won 37 oil blocks in a recent bid round, with potential investments ranging from $15 billion to $21 billion.