Nigeria to target additional production by the end of 2015

ABUJA, January 19, 2015 – Nigeria National Petroleum Corporation (NNPC) announced Monday that the country aims to produce an additional 40,000 barrels of oil per day (bopd) by the end of 2015. Additional output is expected to come from a new project developed by oil multinational Total.

Jonathan Okehs, group general manager of the National Petroleum Investment Management Service (NAPIMS), said in a New Year message that a further 57,000 bopd are expected by 2016 and 200,000 bopd in 2017 as a result of new projects.

The announcement came amid announcements that Nigeria is set to cut petroleum prices a month before general elections in an effort to curb the effect of austerity measures and devaluation of the naira.

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