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NNPC/FIRST E&P JV Commences Oil Production at Madu Field

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PRESS RELEASE

[Abuja, April 19, 2024] – The Nigerian National Petroleum Company Limited (NNPC Ltd) and FIRST Exploration and Petroleum Development Company Limited (FIRST E&P) Joint Venture has announced the commencement of oil production from the Madu Field in Oil Mining Lease (OML) 85.

OML 85 is in the shallow waters offshore Bayelsa State (Nigeria), with FIRST E&P as operator on behalf of the NNPC/FIRST E&P Joint Venture (“JV”).

Madu Oil Field has significant oil, gas, and condensate resources in multiple-stacked reservoirs. The Field, which lies approximately 23km northwest of the JV’s other producing asset – Anyala – is expected to produce an average of 20,000 barrels per day, ramping up joint production capacity for the Anyala and Madu fields to 60,000 barrels per day.

This achievement is testament to President Bola Tinubu’s success in rallying the industry to ramp up hydrocarbon production by creating an enabling environment for current industry players and prospective investors.

It would be recalled that the NNPC/FIRST E&P JV commenced the greenfield development of the Madu and Anyala Fields after taking Final Investment Decision (“FID”) on both fields in 2018. The crude oil from Madu field will be processed at the JV’s Abigail-Joseph Floating Production Storage and Offloading (“FPSO”) Unit, which has a crude oil storage capacity of up to 800,000bbls.

The Group Chief Executive Officer, NNPC, Mele Kyari while appreciating the support from stakeholders described the commencement of oil production at Madu Field as a significant milestone that will contribute to the larger goal of meeting the production required to drive revenue growth and boost the nation’s economy. Kyari explained that the addition of 20,000 barrels per day by an indigenous oil player signals the commitment of stakeholders to facilitating the nation’s economic development.

Also speaking, the Managing Director, FIRST E&P, Ademola Adeyemi-Bero, stated that the achievement underscores FIRST E&P’s commitment to delivering value to its stakeholders while contributing to the energy needs of the nation and beyond.

Emphasizing the significance of the development, Adeyemi-Bero stated:  “Achieving production from the Madu Field is a milestone event and an integral part of our long-term strategy. With this, we have further demonstrated that FIRST E&P is committed to delivering sustained growth and impact in the dynamic energy landscape. We remain steadfast in our pursuit of operational excellence and look forward to contributing even more to the prosperity of the communities in which we operate and to the nation as a whole”.

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Juliet Ehimuan

Non-Executive Director

Juliet Ehimuan is Director of Google in West Africa. She was named by Forbes as one of the top 20 power women in Africa, by the London Business School as one of 30 people changing the world; and featured in the BBC Africa Power Women series, and on CNN Innovate Africa.

With over 25 years experience primarily in Technology, Oil & Gas, and New Media industries across Europe, Middle East and Africa; Juliet is a leading voice on Innovation, Transformation, and Leadership. She has received numerous awards for outstanding contribution to the digital landscape in Africa. Under her leadership, the Google team has made a significant impact on local content development, infrastructure deployment, and digital capacity building.

Juliet has degrees from the London Business School, University of Cambridge; and Obafemi Awolowo University, Ile-Ife. She was awarded IT Personality of the Year in 2012 by the Nigeria Computer Society, Digital Personality of the year 2016 by Marketing World; and received a 2015 Titans of Technology award from TechnologyAfrica.

She is a member of the Forbes Coaches Council and recently published 30 Days of
Excellence, a leadership and effectiveness guide.

Daniella Obiesie-Uijlenhoed

Non-Executive Director

Daniella Obiesie-Uijlenhoed is currently a Director & Partner in Danicees FZ, an oil & gas servicing company based in Nigeria & the UAE. She is also on the Board of Directors of FIRST Exploration & Petroleum Development Company Limited, an upstream oil & gas producing company in Nigeria.

Born in Nigeria, Daniella has a Master’s degree in Business Administration & a Post Graduate Diploma in Management from the University of Calabar. She obtained her first degree is from the University of Nigeria Nsukka (UNN) where she graduated with a Bachelor of Arts degree in Mass Communication.

Daniella started work with the banking industry in 1997. Her work experience includes positions in Federal Mortgage Finance, New Nigeria Bank & Zenith Bank PLC which she left at mid-management level to join Shell Nigeria Exploration & Production Company in 2005 as a stakeholder management liaison between SNEPCo and NNPC/NAPIMS on the Bonga South-West project.

She would later move to the Contracting team as Head, Office Services, managing the processing & subsequent approvals through the various team lines for all SNEPCo office contracts in Lagos, Abuja, Port Harcourt, & Warri.

In 2009, Daniella took a hiatus from Shell Nigeria and worked with Oman Oryx Construction Company, UAE as the Head Corporate Services, responsible for handling all permits and stakeholder management engagements between the company and the Ministry of Energy & Minerals in Oman.

Daniella returned to Shell Nigeria in 2012, working within the strategy & portfolio team for SNEPCo office & governance policies Nigeria, until her voluntary exit from the company in 2015 to join her husband at Danicees and focus on her family.

Daniella is passionate about the formal & non-formal development of young people in Nigeria. She has been a Trustee and Director on the Board of the Duke of Edinburgh award for young people in Nigeria since 2018. The parent organization for the award was founded in 1956 in England by the late Prince Philip the 1st Duke of Edinburgh.

Daniella views external relationships as key enabler to corporate success and is a team player dedicated to personal delivery and organizational goals. She is a hands-on, high-energy individual who uses her unique interpersonal skills to generate value for organizations and their stakeholders, balancing the strategic agenda with the requirements for optimal delivery.