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Strong production performance from Shell brings Nigerian oil production back up

A view shows the Bonny oil terminal in the Niger delta in Port Harcourt, Nigeria August 1, 2018. REUTERS/Ron Bousso/File Photo

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Nigeria’s oil and condensate production was up +14% Month-over-Month (MoM) between December and January, latest data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) shows.

Oil production only was up about +17% and reached almost 1.4 million barrels of oil per day (bopd) at the start of the year. This is a level Nigeria had not seen since early 2021.

Source: NUPRC

Shell’s infrastructure was responsible for producing and handling 86% of the additional 6.2 million barrels produced in Nigeria between December and January.

Notable MoM gains were registered at both oil export terminals operated by Shell, including Bonny (+68.6%) and Forcados (+62.6%). Oil output from the Forcados terminal notably reached a 2-year high last month.

But performances also improved at two of the FPSOs that Shell operates in the country: Sea Eagle (+79.7%) and Bonga (+21%).

Additional gains were also registered at Eni’s Brass terminal (+21.2%), TotalEnergies’ Odudu-Amenam hub (+20%) and First E&P’s FPSO Abigail-Joseph (+25%).

Nigeria has struggle for the whole of 2021 to increase production because of a lack of investment and continued crude theft and vandalism on its infrastructure. In February and March, its allocated production quotas from OPEC are set at 1.701 million and 1.718 million bopd respectively.

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