OREDOLA ADEOLA

 

The dwindling fortunes of indigenous oil companies continued as Marginal Fields’ operators contributed 2.98 per cent to Nigeria’s crude oil production in the month of April 2015.

Last year, the immediate past Director of the Department of Petroleum Resources, DPR, Mr. George Osahon, had warned marginal field operators, MFOs in Nigeria that marginal fields awarded in 2003 which have become non-performing after 10 years will be revoked in March 2015.

The reason for the additional grace period of two years was not stated, seeing as oil and gas licences elapse after 10 years if undeveloped, and are thrown back into the basket for future licensing rounds.

The Nigerian National Petroleum Corporation, NNPC, in its Monthly Petroleum Information for the month of April, disclosed that the marginal fields’ operators produced 1.717 million barrels of crude in the month under review, translating to an average of 2,491 barrels of crude oil per day.

This represented a 16.6 per cent decline from total crude production of N2.177 million barrels recorded by the marginal fields’ operators in March 2015.

Generally, the country recorded 60.84 million barrels of crude oil output in the month under review, representing a daily average crude oil production of 2.03 million barrels per day.

Oriental Energy recorded the highest output in the segment, with total crude oil production of 911,443 barrels, translating to a daily average of 30,381 barrels. This represented 1.7 per cent of the total crude oil production for the month of April.

Midwestern Oil and Gas followed with crude oil production of 242,534 barrels of crude oil; Waltersmith recorded 149,304barrels while Niger Delta Petroleum Resources recorded 112.11 million barrels of crude oil.

Others are: Platform Petroleum —55,460 barrels, Pillar Oil — 56,828 barrels, Energia Limited — 62,070 barrels, Brittania-U — 51,059 barrels, prime Exploration — 38,743 barrels Frontier Oil — 16,186 barrels; Universal Energy 44,219 barrels and Network Exploration and Production — 74,717 barrels.

Production Sharing Companies (PSC) recorded the highest crude oil production in the month of April, accounting for 42.4 per cent of total output with 25.8 million barrels of crude oil. Joint Venture Companies (JVC) followed with 19.568 million barrels of crude oil, representing 32.16 per cent of total output in the period.

Alternative Funding-Joint Venture (AF-JV) companies recorded 10.8 million barrels of crude oil, accounting for 17.75 per cent of total crude oil production in the period under review.

Mobil Nigeria, under the AF-JV segment emerged the highest crude oil producer in the period under review, with total output of 7.431 million barrels, representing 12.21 per cent of total crude oil produced in April.

Chevron, under the Production Sharing Companies segment, recorded total crude oil output of 6.913 million barrels, representing 11.36 per cent of total crude oil production; Shell Petroleum Development Company, under the JV segment, recorded crude oil production of 6.26 million barrels of crude oil, while Shell Nigeria Exploration and Production Company, SNEPCO, under the PSC segment, recorded 5.517 million barrels of crude oil.

Others are: Mobil, under the JVC, 5.159 million barrels; Sapetrol/Total Upstream Nigeria — 4.7 million barrels; Chevron (JVC) — 3.75 million, while Total Upstream Production Nigeria (TUPNI) recorded 3.31 million barrels.

Continuing, the NNPC said, “Total wellhead gross production for the month was 53.87 million barrels. This figure was short of actual, as wellhead production data from some companies was not available.

“Terminal (fiscalised) production total for the month was about 60.84 million barrels representing 2.03 million barrels per day, 5.17 per cent lower from production of 64.16 million barrels or 2.07 million barrels per day in March, 2015

“Total crude oil and condensates lifting for both domestic and export was about 63.99 million barrels. Oil companies lifted about 39.83 million barrels (62.24%), while NNPC lifted 24.15 million barrels (37.74%).”