The proven Nigerian oil reserves are 23 Billion barrels; the gas
reserves are 160 Trillion cubic meters.
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The country has put in place Petroleum and Gas policy with the
following objectives:
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Increasing oil reserve base and productivity through vigorous
exploration and ensuring judicious exploitation of the resource.
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Allowing for private sector participation in all the facets of the
industry through attractive fiscal measures. Government is giving
serious consideration to selling its equity shares in joint venture
operation.
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Acquiring reasonable market shares for the crude oil and its
derivatives and achievement of domestic refining self-sufficiency.
Expanding the utilization of natural gas.
Up-stream Sector -Down-stream Sector; Gas Development and Conversion;
and Marketing of Nigeria crude oil.
Activities under the upstream sector include:
Surveying: Geodetic control establishment; Mapping, tropical and plan
metric; and Sea Bottom Survey/Investigation.
Civil Works: Site Surveys; Preparation of drilling locations;
Construction of mud pits and slabbing or concreting jobs at rig sites.
Supplies of cement, chemicals, sands, gravel, iron rods, labour, road
mat, timber, etc.
Seismic Data Acquisition and Interpretation: Analysis and interpretation
of data acquired from seismic and geodetic surveys - such data on soil
land rock samples.
Geological Activities: Wire line, logging, core analysis, geological and
geochemical studies.
Drilling Operations: Drilling and work-over rigs; field transportation
and equipment for haulage and rig movements; general and specialized
service such as casing running, cementation, welding, diving and
catering; and provision of mud and other chemicals.
Crude Oil Transportation & Storage: Construction and maintenance of
crude oil storage tanks and pipelines.
Exploration and Production: Investors wishing to participate in this
venture are welcome. This involves applying for block(s) for exploration
through the oil prospecting license (OPL) and the oil-mining lease
(OML). Currently, emphasis is shifting from production sharing contract
(PSC) to Service Contract.
Pursuant to the above, the Oil Exploration License (OEL) confers on the
licensee, renewable on expiration.
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Investors can set up and wholly own a refinery;
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Companies with the technological know-how can
undertake turn-around maintenance of refineries;
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There is tremendous scope for small-scale joint
venture manufacture of spare parts, chemicals with technical foreign
partners;
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Also opportunities exist in the manufacture of
other special products such as:
(a) industrial and food grade solvents;
(b) insecticides
(c) cosmetics
(d) mineral oil, petroleum jelly greases;
(e) bituminous-based water/damp proof building materials such as floor
tiles,
(f) exports of refined products surplus;
A three-phased petrochemical development plan is in place. The first
phase is already in place producing:
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Linear alkyl – benzene, carbon black and polypropylene;
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Carbon black, used for manufacture of tyres, rubber products,
pigments, printing inks, polish, etc;
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Linear alkyl – benzene, used as an active agent in the production of
detergents and shampoos;
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Polypropylene, used as a raw material in the manufacture of
injection moulding, fibres extrusion, shipping sacks, prayer mats,
carpet underlay and cloth wrap;
The second phase, an olefin based complex has been commissioned; and
Investors can engage in products fabrication.
Government has opened the sector to foreign investment and is willing to
consider appropriate tailor – made incentives for projects in this
sector. Opportunities which abound in this sector for investors
include:-
Plans are a foot to build and extend gas pipeline in view of the
importance of gas. Investors wishing to set up energy intensive
industries such as cement factories, iron smelting and foundries will
have a significant cost saving if gas is used as fuel.
In furtherance of the spirit of the treaty of ECOWAS (the Economic
community of West African States) which seeks to encourage co –
operation between member states for the overall improvement of their
economies, Nigeria embraced the West African Gas pipeline concept
conceived by the World Bank as a means of meeting the energy requirement
of Ghana, Togo and Benin Republic by supplying them with natural gas
from Nigeria on purely commercial terms.
The Nigerian LNG project is being implemented in phases with an initial
production from two trains. The plant is situated at Bonny Island. NLNG
has successfully secured market for its moderate production volume from
its base project and train three.
There is more Gas than Oil, in Nigeria. While the country's oil reserve
could last for about 31 years that of gas could be depleted in about 72
years, according to recent authoritative report.
In spite of this abundance, local gas utilization is constrained by
limited transmission systems and even lack of same in some parts of the
country. This hinders greatly, the transmission, distribution and
marketing of the product in many parts of the nation.
Currently, there is a proposal by the Nigerian government to construct
additional four transmissions systems including Ajaokuta – Abuja -
Kaduna, and Aba – Enugu - Gboko at the estimated cost of $2 billion.
For more information contact:
Nigerian National Petroleum Corporation
NNPC Towers, Herbert Macaulay Way
Central Business District
FCT - Abuja
Nigeria
Website:
www.nnpc-nigeria.com
Nigerian Liquefied Natural gas
Nigeria LNG Limited,
C & C Towers, Plot 1684 Sanusi Fafunwa Street,
Victoria Island, P.M.B. 12774 (Marina), Lagos, Nigeria.
Tel: +234-1-2624190-4, 2624556.
Fax: +234-1-2616976.
Website:
www.nigerialng.com
email: feedback@nlng.com