He explained that following the approvals for Field Development Programmes (FDP) for some of the 2020 marginal field bid investors, the commission is optimistic of exceeding the OPEC quota.
By 2027, upstream production is expected to grow 500,000 boe/d to 4.2 million boe/d, with more than 50% of the total to come from those key growth areas.
Sylva’s resignation comes at a time of political transition in Nigeria, with President Muhammadu Buhari serving his final weeks in office before giving way to President-elect Bola Tinubu on May 29.
It said: “We are pleased to announce the successful restoration of ST-6 after extensive repairs, including replacement of HIP & LP steam turbine blades and Generator overhauling, in addition to the in-house inspections for Boiler and Balance of Plant.
The conglomerate saw a 7% increase in its Power investments, despite the challenges faced in the year from the issues with gas supply, off the diminished Oil & Gas production in the country in 2022.
