Nigeria: Paucity of Funds, Others Hindering Marginal Fields Devt - Operators

4 February 2014

Marginal field operators in the nation's oil and gas industry have bemoaned their challenges and handicaps since they got their fields in the aftermath of the bid round held in 2003.

Their concern emanated from the fact that out of the 24 oil fields awarded in 2003, only 7 fields are producing (averaging an aggregate gross production of 27,200 barrels of oil per day and 35 million standard cubic feet per day of gas). This accounts for about two percent of national production.

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