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Indigenous Producers Deliver 260,000 B/d

Nigerian indigenous exploration and production companies produced about 260,000 barrels of crude oil per day, or 12 percent of the country’s total crude oil production, in August 2015.

Although it is an indigenous oil firm, Nigerian Petroleum Development Company (NPDC) is not part of the calculation since it is a daughter company of the Nigerian National Petroleum Corporation (NNPC) which is in joint venture and production sharing agreements with other players in the field.

The figure, according to Africa Oil + Gas Reports, is a clear indication that the indig- Indigenous Producers Deliver 260,000 B/d enous producer group is not producing optimally from the acreages it controls; which hold over 30% of the nation’s crude oil and gas reserves.

The top five homegrown Nigerian producers in August 2015 were Seplat, Oando, Famfa, Aiteo and Neconde, in that order, of which only Seplat and Aiteo have full operatorship status.

Oando is a non-operating partner in all the five acreages and two fields in which it has production. Still, the Nigerian operator has become the rule than the exception; out of 31 indigenous oil and gas producing companies, 21 are operating their own assets.

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