Marginal oilfields are those of low reserves and productivity averaging less that 10,000 barrels per day which are abandoned by multinational oil companies due to the low profitability potentials.
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Great Freebee For Nigerian Oil Firms
The government would buy such oilfields and hand over to the companies
The Nigerian government plans to develop marginal oilfields in the country to encourage domestic oil firms to go into petroleum exploration and production. The government would buy such oilfields and hand over to the companies.
Nigeria's Department of Petroleum Resources? Mac Ofurhie explained the purpose, ?'The objective is to have more local participants in the petroleum sector where 90 percent of the output is undertaken by foreign multinational oil companies.?
Marginal oilfields are those of low reserves and productivity averaging less that 10,000 barrels per day which are abandoned by multinational oil companies due to the low profitability potentials.
Marginal oilfields are those of low reserves and productivity averaging less that 10,000 barrels per day which are abandoned by multinational oil companies due to the low profitability potentials.
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