Abu dhabi: The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced that Nigeria is on track to increase its crude oil production to two million barrels per day (bpd) by 2027, with a further goal of reaching three million bpd by 2030. This statement was made by Mr. Udy Ntia, Executive Vice President, Upstream, NNPC Ltd., during the ongoing 2025 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).
According to News Agency of Nigeria, ADIPEC, recognized as the world’s largest energy exhibition and conference, is hosted by the Abu Dhabi National Oil Company (ADNOC). The 41st edition of the event, themed ‘Energy. Intelligence. Impact,’ is taking place from November 3 to November 6 and is drawing participation from stakeholders across the energy, technology, and finance sectors.
During the session titled ‘Beyond the Barrel: The Future of Upstream Strategy,’ Ntia highlighted that NNPC’s approach to upstream growth is centered on technology, efficiency, and decarbonisation. He emphasized that Nigeria’s upstream sector is progressing through collaboration, co-investments, and strategic capital deployment rather than competition. He noted that the focus is not only on increasing oil production but also on enhancing production efficiency, cleanliness, and profitability.
Ntia identified three key forces influencing the upstream sector globally and in Nigeria: energy transition pressures, industry fragmentation, and technological advancements. He pointed out that innovation, particularly in Artificial Intelligence and digital technologies, is crucial for improving efficiency and extracting more value from mature fields. Ntia stressed the importance of smarter investments over increased spending.
Addressing energy transition and decarbonisation, Ntia stated that NNPC Ltd. and its partners are committed to reducing emissions while maintaining responsible oil production. He noted that Africa contributes less than three percent of global emissions, underscoring the continent’s ability to decarbonise while continuing responsible production. He highlighted initiatives such as monetisation and flare reduction achieved through commercial partnerships and regulatory compliance.
Ntia also mentioned significant gas pipeline projects, including the Nigeria-Morocco Gas Pipeline and connections to demand centers in western and northern Nigeria. He discussed refinery optimisation and the development of hybrid partnerships for co-investment in upstream projects. He emphasized that co-investment represents the new financing model, ensuring that projects are viable and decisions are made swiftly in a rapidly changing environment.
Ntia advocated for partnership-driven growth between National Oil Companies (NOCs) and International Oil Companies (IOCs), urging collaboration over competition. He highlighted the shared goals of profitability, sustainability, and growth, emphasizing the need to expand opportunities for mutual benefit. Ntia reaffirmed Nigeria’s upstream strategy, which seeks to balance energy security, profitability, and climate responsibility, ensuring the relevance of the nation’s resources in the global energy transition.