Okunbor Warned of the Fall in February, Forecasting Nigeria’s Output Plunge - Africa’s premier report on the oil, gas and energy landscape.

Okunbor Warned of the Fall in February, Forecasting Nigeria’s Output Plunge

By Macson Obojemuinmoin

‘January 2024 Recorded 1.7Bscf/d, Our Highest Contribution to NLNG in Three Years’…

Osagie Okunbor, Chair of Shell Companies in Nigeria (SciN), warned of the likely crash in Nigeria’s crude oil output in February 2024, two weeks before the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed, on its website, the 104,000Barrels Per Day (BOPD) decline from January’s figures.

Okunbor praised the NUPRC and the state hydrocarbon company “for the vigilance which led to achieving an uptick in recent months, especially in the first month of the year”, but warned that the recovery was fragile and things were unravelling in February.

“January was good”, Okunbor told delegates at the Nigerian International Energy Summit (NIES) on February 29, 2024. “In that month, we supplied the highest quantity of gas to NLNG: 1.7Billion standard cubic feet per day (Bscf/d), compared with our contractual 1.8Bscf/d. That is the highest we have achieved in any month in the last three years”.

The gas volume that Okunbor declared, referred to the 53% contribution of the Shell-TOTAL-Agip-NNPC Joint Venture. Two other JVs: Agip-Oando-NPDC and TOTAL-NNPC, contribute 45.9% of the 3.3Bscf/d for the NLNG’s six trains. Aradel Holdings contributes 1.1%.

“Again, I thank the NUPRC and the NNPC, but we should not rest. Things have started to unravel. In February, we woke up to learn of seven vandalized points on the Soku line”, Okunbor warned.

NUPRC, the official archivist of the country’s hydrocarbon output volumes, posted on its widely consulted website, that the February 2024 crude output averaged 1.322Million BOPD, a 7% decline from January’s 1.427MMBOPD.

The Soku field, whose natural gas output contributes significantly to the NLNG, is located south west of Port Harcourt and the crude oil pipeline from the field to the Bonny Terminal (Soku line), passes through Orubiri and Alakiri fields.

 

 

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