NNPC Produces 218.37bn bcf of Natural Gas in March
The Nigerian National Petroleum Corporation (NNPC) has said that 218.37 billion 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 its Monthly Financial and Operations Report for March, 2020, a release by the corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru said.
According to the report, 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 55.63 per cent of the average daily gas produced was commercialized, while the remaining 44.37 per cent was re-injected, used as Upstream fuel gas or flared.
Gas flare rate was 9.08 per cent for the month under review i.e. 679.54mmscfd, compared with average gas flare rate of 8.43 per cent i.e. 666.90mmscfd for March 2019 to March 2020.
During the month under review, the report also announced a trading deficit of ₦9.53billion for March 2020 compared to the ₦3.95billion surplus posted in February 2020.
Orient Energy Review