NCDMB Backs Heritage Energy’s Plan to Hit 100,000 BPD by 2030

The Nigerian Content Development and Monitoring Board (NCDMB) has pledged full support for Heritage Energy’s ambitious plan to increase crude oil production from 45,000 barrels per day (bpd) to 100,000 bpd by 2030. The board assured the company of facilitation in key investment initiatives to drive its production growth strategy.

Heritage Energy, the operator of Oil Mining Lease (OML) 30 on behalf of its joint venture (JV) partners—Shoreline Natural Resources and NNPC Exploration and Production Limited (NEPL)—has outlined a phased expansion strategy focused on drilling new wells and optimising existing assets. The company’s leadership, during a visit to NCDMB Executive Secretary Engr. Felix Omatsola Ogbe, presented its long-term vision and received firm assurances of regulatory and operational support.

As part of its aggressive production ramp-up, the JV partners have launched a four-rig drilling campaign targeting underdeveloped fields and gas projects aligned with Nigeria’s Gas Master Plan. The company also highlighted its commitment to sustainable resource utilisation, local economic development, and job creation.

“We anticipate a significant increase in oil production over the next five years from these initiatives. Beyond increasing output, we are focused on local content development, job creation, and improving environmental sustainability,” Heritage Energy officials stated.

The company is investing in produced water disposal to enhance operational efficiency and is implementing a flare gas gathering and monetisation initiative to unlock additional revenue streams. In addition, Heritage is making significant upgrades to the Trans Forcados Pipeline (TFP) to support its production expansion and crude evacuation from OML 30 and other assets.

NCDMB Executive Secretary Engr. Ogbe commended Heritage Energy and its partners for their strides in boosting production, affirming the board’s commitment to supporting investments that align with President Bola Tinubu’s economic agenda.

“The NCDMB remains dedicated to facilitating investments that will drive increased oil and gas production, create jobs, and contribute to national economic growth,” Ogbe said.