Nigeria Loses 2.3m bpd of Oil in Three Months


"The shut-ins. . .were attributed to some technical challenges faced by the IOCs"

As the country prepares for a new peaceful dispensation in the oil-producing region, facts have emerged that the development had caused the country a loss of about 2,367,518 million barrels per day (bpd) of oil in the last three months.

The shut-ins, which were described as improving from 2,400,000 barrels per day in the corresponding period of 2008, were attributed to some technical challenges faced by the International Oil Companies (IOCs) in the course of operations.

The Director, Department of Petroleum Resources (DPR), Mr. Billy Agha told newsmen recently in Lagos that production deferments for 3Q09 were 634,371 bpd, 827, 517 and 893,523 bpd for June, July and August.

Agha said the figures showed normalcy was gradually returning to the once troubled producing Niger Delta as oil production tended to be hedging upward, compared to last years.

He gave the total crude oil production for the period under review as 214.6 million barrels, at an average daily rate of 2.333 million bpd, while the monthly average production was put at 2,260,224bpd in July, 2,280,197bpd in August and 2,462,516bpd in September.

According to Agha, Nigeria's quota of OPEC now stands at 1,673,000 barrels, after effecting the OPEC production cut of 212,000 barrels.

Toward the end of the quarter, he said the department had commenced auditing oil and gas reserves for all E&P companies in the country to validate and authenticate the reserve figures submitted by the companies.

He said the department has embarked on some technical services that would ensure a more clean and conducive environment for the indigenes of the oil producing regions and Nigerian in totality.

The industry has evolved a zero discharge regime in sensitive areas, which include onshore, swamp, near shore, and shallow offshore locations from previous era of indiscriminate discharge of oil field wastes.

Related Articles

Get Our Streetwise Reports Newsletter Free

A valid email address is required to subscribe