Abuja eyes ambitious oil and gas targets

摘要

Senior Nigerian oil officials have outlined bold plans for the country's ailing industry. They are targeting crude output of more than 2.2mn b/d by June and 3mn b/d by 2021, as a fragile peace in the Niger delta continues to hold. Oil minister Emmanuel Ibe Kachikwu acknowledges a number of issues that are hampering Nigeria's ability to raise production. These include outstanding arrears in "cash-call" payments to the joint-venture partners of state-owned NNPC, high production costs and the need to contain rebel groups in the Niger delta. "This country has the capacity to be able to grow its output to as much as 3mn b/d, if we solve the militancy issue," Kachikwu told delegates at the Nigeria Oil and Gas conference in Abuja on 28 February.