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Indigenous companies contribute 40% of Nigeria's oil reserves, says NUPRC | TheCable

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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says local operators currently contribute 40 per cent and 32 per cent of oil and gas reserves, respectively. Oil reserves are estimates of

July 4, 2022 4:26 PM

The IPPG is an umbrella body of the indigenous petroleum exploration and production companies in Nigeria.Some of those honoured are Ambrosie Orjiako, pioneer chair of Seplat, Abdulrasaq Isa of Waltersmith, Tunde Afolabi of Amni International, Layi Fatona, pioneer managing director of Niger Delta Exploration and Production, among others.

Komolafe said seven indigenous companies are currently among the top 20 with the highest oil reserves in the country.He added that the IPPG remains a major force in the exploration of the country’s hydrocarbon resources for maximal value addition. Komolafe noted that since then, there have been several programmes where 30 blocks were awarded on a sole risk basis, while 24 were awarded between 2003 and 2004.

 

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Do Nigeria have oil reserves.

Which reserve? Does Nigeria government think about tomorrow?

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