Financial Energy Review
In a significant stride towards supporting Nigeria’s commitment to reducing
greenhouse gas emissions by 20% unconditionally and 47% conditionally, as
stipulated in the Nationally Determined Contributions under the Paris Agreement,
the NNPC Ltd and First Exploration & Petroleum Development Company Limited
(First E&P) Joint Venture (JV) has successfully achieved 96% reduction in routine
flaring of associated gas (AG) from the Anyala (OML 83) and Madu (OML 85) fields.
This remarkable milestone was attained through the implementation of an AG
reinjection strategy into a designated underground storage reservoir at the Madu
field, situated in OML 85, offshore Bayelsa State. The initiative ensures that gas,
which would have otherwise been flared, is now safely stored, significantly
mitigating environmental impact.
The reduction in AG flaring aligns with the regulatory framework set forth by the
Nigerian Upstream Petroleum Regulatory Commission (NUPRC), underscoring the
JV’s compliance with national environmental standards and global best practices.
Commenting on this achievement, the Group Chief Executive Officer of NNPC Ltd,
Mr. Mele Kyari, stated: “This achievement underscores our commitment to
leveraging resources responsibly and optimising production to meet energy needs
and sustainability goals. It reflects our commitment to aligning our operations with
global standards and environmental best practices.”
Similarly, Ademola Adeyemi-Bero, MD/CEO of FIRST E&P, remarked: “This milestone
reflects our unwavering commitment to environmental sustainability and
responsible energy production. By substantially reducing our carbon footprint, we
are contributing to a sustainable energy future that benefits both the environment
and the communities we serve.”
Building on this success, the JV remains focused on commercializing the stored
gas and other stranded gas resources within the Niger Delta, reinforcing its
dedication to environmental stewardship and the advancement of sustainable energy solutions.
