— May 9, 2014
The Nigerian Petroleum Development Company (NPDC), a
subsidiary of the Nigerian National Petroleum Corporation (NNPC), is
Nigeria’s midsize flagship upstream exploration company.
The company which made its first entry into the domestic gas market with the commissioning of the 100mscf per day has grown to become the biggest producer and supplier of gas in the domestic market, contributing over 450mscf per day through the Oredo and Utorogu gas plants, with the acquisition of these assets.
Speaking yesterday at the ongoing Offshore Technology Conference (OTC) in Houston, Texas, United States of America (USA), the group managing director, NNPC, Mr Andrew Yakubu, stated that Wood Mackenzie estimated that between 2014 and 2020, close to $3 billion of Capital Expenditure will be spent across five of the divested licences.
He explained that “the work programmes for the respective blocks will include re-entry into existing wells, flow-line and processing facilities repair as well as drilling of new wells. In addition to this, exploiting undeveloped fields and near exploration is expected to be carried out,” Yakubu stated.
Speaking further, he added that, “given the scale of drilling required, it is estimated that each block will need to have a minimum of two dedicated rigs for their near-to-medium-term drilling plans and this does present opportunities for the industry.”
Stay up to date, follow us on Twitter; @LeadershipNGA
The company which made its first entry into the domestic gas market with the commissioning of the 100mscf per day has grown to become the biggest producer and supplier of gas in the domestic market, contributing over 450mscf per day through the Oredo and Utorogu gas plants, with the acquisition of these assets.
Speaking yesterday at the ongoing Offshore Technology Conference (OTC) in Houston, Texas, United States of America (USA), the group managing director, NNPC, Mr Andrew Yakubu, stated that Wood Mackenzie estimated that between 2014 and 2020, close to $3 billion of Capital Expenditure will be spent across five of the divested licences.
He explained that “the work programmes for the respective blocks will include re-entry into existing wells, flow-line and processing facilities repair as well as drilling of new wells. In addition to this, exploiting undeveloped fields and near exploration is expected to be carried out,” Yakubu stated.
Speaking further, he added that, “given the scale of drilling required, it is estimated that each block will need to have a minimum of two dedicated rigs for their near-to-medium-term drilling plans and this does present opportunities for the industry.”
Stay up to date, follow us on Twitter; @LeadershipNGA
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