Nigeria’s natural gas reserve now 206.53tcf ― DPR

11 Jun Nigeria’s natural gas reserve now 206.53tcf ― DPR

Nigeria’s natural gas reserve has risen to 206.53 Trillion Cubic Feet (TCF), just as the Department of Petroleum Resources (DPR) announced a development showing that the country’s declaration of the gas decade is on course.

The Managing Director and CEO of the Department of Petroleum Resources, Sarki Auwalu in a presentation at Nigerian International Petroleum Summit on June 10, made the declaration.

Of this figure, Associated gas stands which stand for gas discovered while drilling for oil stands at 100.73 TCF while Non-Associated Gas reserves now stand at 105.80 TCF.

Auwalu praised independent field operators who he said played a critical role in developing the reserves.

The participation of Independents field operators in Nigeria’s oil and gas industry has been growing even as International Oil Companies retreat due to a difficult operating environment marked by insecurity and endless agitations by communities where oil is explored.

However, indigenous producers have proven to be better at managing community agitations and navigating the challenge of limited funding by collaboration and sharing resources.

Now, they are making a difference. For example, Shoreline Natural Resources Ltd, an independent producer alone contributed to 2.5 TCF of this proven gas reserve.

Nigeria attained the target of 200 TCF of 2P Reserves by the Reserve Declaration as of January 1, 2019, before the 2020 target year.