Nigeria’s Deepwater Oil Fields Could Unlock Massive 810,000 Barrels Per Day Boost
The Federal Government has unveiled an ambitious plan to unlock an additional 810,000 barrels of crude oil per day from Nigeria’s deepwater oil fields through a revolutionary cluster and nodal development initiative. The Nigerian Upstream Petroleum Regulatory Commission announced that if fully implemented, this could raise Nigeria’s total monthly crude production by approximately 2.51 million barrels per day with condensates.
The dramatic move comes as Nigeria’s deepwater production has plummeted from 800,000 barrels per day in 2016 to below 500,000 barrels per day currently. Chief Executive Gbenga Komolafe revealed that over 5.13 billion barrels of oil and 13.53 trillion cubic feet of gas remain untapped in deepwater acreages, with 3.59 billion barrels classified as proven and probable reserves.
“Once these approved Field Development Plans are executed, we could see peak oil production rise by as much as 810,000 barrels of oil per day,” Komolafe explained at a stakeholders’ workshop in Abuja. The initiative targets major assets including Owowo, Bonga North, Zaba Zaba, Eta, and NAE fields.
A new Shallow and Deepwater Cluster Development Committee has been established to work with international oil companies and indigenous producers. The commission noted that Nigeria’s eight Floating Production Storage and Offloading units are currently grossly underutilized, presenting a significant opportunity for increased production.
Source: punchng.com
