Nigeria is a hub for the oil and gas sector in Africa. Nigeria is a mixed model emerging economy rich in mineral resources, particularly for oil and natural gas. With a population of 163.2 Million and land area of 924,000 square kilometres, the country has a nominal GDP of $1,443 per capita. The petroleum export from the country is at $86.20 billion. It has proven reserve of, 37.20 billion barrels of crude oil and 5,154 billion cubic metre of natural gas. The crude oil production stands at 1,975,000 barrels per day. The marketing production of natural gas stands at 41.32 cubic metres. The country exports 2,377,000 barrel per day of petroleum, 23,600 barrels per day of petroleum products and 25.94 billion cubic metres of natural gas.
The report is an analysis on the oil sector in Nigeria. Nigeria has a well-defined regulatory and policy framework for the oil and gas sector. Agencies of the Federal Republic of Nigeria namely, Nigerian National Petroleum Corporation, Ministry of Petroleum Resources and Federal Environmental Protection Agency play an active role in implementation of policy instruments.
It aims to provide insight in to the current oil industry in Nigeria. The focus of the report has been on oil asset licensing and the modes. The analysis identifies the key fields, producers and the reserves. The analysis highlights reserves available in the field and upcoming projects. The report also identifies the ownership structure of key players. The analysis of ownership structure of companies in public-private partnership will provide an insight into the number of licenses and leases held for the respective oil fields. Companies operating in the country have been analyzed. Companies supporting the Oil and Gas industry have also been analyzed in the report.
The assessment conducted is technical, economic and regulatory. 84 Companies, 36 Leading Oil Fields and Reserves, 55 OML-OPL ownership landscape, and 16 upcoming projects have been assessed.