News // Oil and gas worldwide
Nigeria oil output may rise 60% by 2020
18 December 2018 , 16:06Neftegaz.RU398
Abuja, December 18 - Neftegaz.RU. Ibe Kachikwu, Nigeria's oil minister, said the West African country's oil production may rise 60 % by 2020, as the offshore Egina project comes online and as the country invests to recover output, in parallel to efforts to fight alleged bribing corruption involving 2 oil multinationals.
«If we work hard enough by the end of 2019, and 2020, we ought to begin to see Nigeria's production rise from the usual 1.8 million to 2.0 million barrels, up to between 2.5 million and 3 million barrels,» Kachikwu said.
«The increase is based on the coming on stream of the Egina field and the recently approved 30 field works which have the capability of increasing Nigeria's output by 500,000 barrels per day,» he added.
Besides Egina, there is also a contribution from recently approved works in «30 fields which have the capability of increasing Nigeria's output by 500,000 barrels per day,» Kachikwu noted.
Kachikwu also said that problems in Nigeria related to scarcity of refined fuel could be solved through securing help from private investors so that refining operations could receive badly needed capital investment.
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