Proven gas deposits in Nigeria has moved 206.53 trillion cubic feet, the Department of Petroleum Resources (DPR) said yesterday in Abuja.
Speaking at the Nigeria International Petroleum Summit, Director of DPR, Auwalu Sarki disclosed that indigenous oil and gas companies are now contributing as much as 33 per cent to the nation’s crude oil reserves and about 30 per cent of gas reserves.
While the companies contribution to the reserves was less than 10 million barrels in 2005, it has grown significantly to about 62 million barrels in 2020.
Speaking on the gas reserves, Auwalu attributed the growth to recent efforts being made on gas exploration in the country, especially the “Decade of Gas Initiative’.
The Nigerian government had last year put Nigeria’s total gas reserves at 203.16 trillion cubic feet (TCF), representing a marginal increase of 1.16tcf or 0.57 per cent from the 202tcf recorded in 2019. The recent increase implies a…
Source: Guardian Newspaper