The federal government has announced the discovery of an additional 3.53 Trillion Cubic Feet (TCF) of gas in the country, further boosting the existing quantum of reserve to 206.53 TCF.
Speaking at the Nigeria International Petroleum Summit (NIPS), held in Abuja recently, the Director of the Department of Petroleum Resources (DPR), Mr. Sarki Auwalu, noted that the 2021 figure, was a major step towards the 220TCF target it set for itself earlier.
Of the aforementioned amount, Auwalu stated that the quantum of associated gas now stands at 100.73TCF, while non-associated gas is 105.8 TCF to arrive at the new figure, in line with the federal government’s “decade of gas” declaration.
Auwalu stated that Nigeria’s human and natural resource coupled with being Africa’s largest economy, places it at a vantage position for investment and participation, reason the regulatory agency has continued to grow the country’s reserves.
On the recently awarded marginal fields, Auwalu stated that there is need for more intense work to accelerate it and bring about a lot more opportunities in the sector. Talking about opportunities in the industry, he noted that in the midstream gas sector, there are gaps to be filled in distribution and supply, cross-national pipeline networks as well as opportunities in the gas flare volume that the sector is working towards eliminating.
