Nigeria Enhances Investment and Accelerates Local Company Participation with Marginal Field Opportunities

Nigeria Enhances Investment and Accelerates Local Company Participation with Marginal Field Opportunities

With over 36 billion barrels of oil and 200 trillion cubic feet of natural gas, as well as the active participation of global oil majors including TotalEnergies, Shell, Chevron, and ExxonMobil, Nigeria is intensifying efforts to exploit its significant resources and establish itself as a globally competitive oil and gas industry. With the country experiencing a downturn in production - attributed to ageing oilfields, non-performing marginal fields, OPEC enforced production cuts and the global pandemic – as well as declining investment trends, the government has made significant progress to enhance upstream activity and attract investment back into the sector.
Source: Nigeria Enhances Investment and Accelerates Local Company Participation with Marginal Field Opportunities

- gist culled from pulseng