NEWS

NNPC Commercializes 55% Of 218.37bcf Of Gas Produced In March

NNPC GMD, Mele Kyari

The Nigerian National Petroleum Corporation (NNPC) has said that 218.37billion Cubic Feet (BCF) of natural gas was produced in March 2020, translating to an average daily production of 7493.65Million Standard Cubic Feet per Day (mmscfd).

This was contained in Corporations Monthly Financial and Operations Report for March, 2020.

The NNPC said 3,119.89BCF of gas was produced for the period March 2019 to March 2020, representing an average daily production of 7,912.05mmscfd during the period.

It explained that period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 69.37 per cent, 21.67 per cent and 8.95 per cent, respectively, to the total national gas production.

Out of the 218.37BCF of gas supplied in March 2020, according to the report, 120.73BCF of gas was commercialized, consisting of 33.45BCF and 87.28BCF for the domestic and export market respectively, translating to 1,235.56mmscfd of gas to the domestic market and 3,817.40mmscfd of gas supplied to the export market for the month.

The report said 55.63percent of the average daily gas produced was commercialized, while the balance of 44.37percent was re-injected, used as Upstream fuel gas or flared.

Gas flare rate was 9.08 percent for the month under review that is 679.54mmscfd, compared with average gas flare rate of 8.43 percent at 666.90mmscfd for March 2019 to March 2020.

The March 2020 MFO report of the NNPC is the 56th edition in the series that began in 2016.

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