Indigenous oil and gas operators now dey account for more than 50 per cent of Nigeria crude oil production, di Federal Government don talk.
Di Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, disclose dis one on Wednesday for di maiden Petroleum Technology Development Fund (PTDF) Journal Summit 2026 for Abuja.
Di minister, wey his Technical Adviser, Engr. Emmanuel Sinime represent, talk say di development na because of major divestment transactions by international oil companies, wey he talk say don create opportunities for indigenous operators to expand dia participation for di upstream sector.
Lokpobiri talk say Nigeria crude oil production don rise from about one million barrels per day for 2023 to more than 1.7 million barrels per day.
He add say di number of active drilling rigs don increase from about 14 to more than 60, while Nigeria don attract over $10 billion in foreign direct investment for recent years.
“Significant progress also don dey made in restructuring di industry by completing major divestment transactions involving international oil companies.
“These transactions dey create great opportunities for indigenous operators wey now dey account for more than 50 per cent of Nigerian crude oil production, a historic milestone for our industry,” he talk.
However, Lokpobiri talk say di increase in crude production must match with adequate infrastructure, efficient transportation and storage systems, expanded refining capacity and a competitive market wey go fit deliver value to consumers and investors.
