Nigeria’s state-owned energy firm, the Nigerian National Petroleum Company Limited (NNPC Ltd.), has reaffirmed that the country remains firmly on course to achieve a daily crude oil production capacity of two million barrels by 2027 and three million barrels by 2030.
The disclosure was made by Mr. Udy Ntia, Executive Vice President for Upstream at NNPC Ltd., during a session at the 2025 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) — the world’s largest gathering for the global energy industry. The event, hosted by the Abu Dhabi National Oil Company (ADNOC), is taking place from November 3 to November 6 under the theme “Energy. Intelligence. Impact.”
Speaking during a panel titled “Beyond the Barrel: The Future of Upstream Strategy,” Ntia highlighted that NNPC’s upstream expansion strategy is built around collaboration, co-investment, innovation, and sustainability.
“Our goal is not just to produce more oil but to produce it smarter — cleaner, more efficiently, and more profitably,” Ntia explained.
According to him, Nigeria’s upstream sector is undergoing a transformation driven by technology and partnerships rather than competition. He identified three critical global factors influencing this shift — the energy transition, industry fragmentation, and rapid technological advancement.
Ntia emphasized that Artificial Intelligence (AI) and digital technologies are revolutionizing the oil sector by improving operational efficiency, enhancing decision-making, and unlocking potential in mature fields. “Technology is now the enabler of smarter investment and long-term value,” he added.
On the issue of energy transition and decarbonisation, Ntia noted that while Africa contributes less than three percent to global emissions, NNPC remains committed to responsible oil production. Ongoing efforts include gas monetisation, flare reduction, and commercial partnerships to minimize environmental impact.
The company’s pipeline initiatives — notably the Nigeria-Morocco Gas Pipeline — and refinery optimisation projects are key components of this decarbonisation drive. He explained that the company is adopting co-investment as a modern financing model, ensuring projects remain viable and bankable amid global shifts in the energy market.
“Co-investment is redefining how we fund projects. We are prioritising speed, bankability, and shared growth,” he said.
Ntia also urged greater collaboration between National Oil Companies (NOCs) and International Oil Companies (IOCs), describing them as partners in progress.
“The future is partnership-driven. Everyone benefits when we work together toward profitability, sustainability, and innovation,” he stated.
NNPC’s long-term strategy, he concluded, focuses on balancing energy security, profitability, and environmental stewardship — ensuring Nigeria remains a competitive force in the evolving global energy landscape.
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