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Daily Times
May 27, 2021
Oil and Gas Development Company Limited (OGDCL), during the first three quarters of the current fiscal year, has injected as many as 12 more operated wells in the production gathering system aimed at tackling the natural depletion in existing reserves and meeting the country’s ever-increasing energy needs.
“Decline in the production was partially mitigated by injection of 12 operated wells in the system including Mela-7, Pasakhi-11, TAY South West-1, Saand-1 & 2, Umair-1, Mangrio-1, Togh Bala-1, Nashpa-10, Pasakhi Deep-6, Pasakhi West Deep-2 and Qadirpur-62 which cumulatively yielded gross crude oil and gas production of 371,918 barrels (BBL) and 6,769 Million Cubic Feet (MMCF) respectively,” according to an official report available with APP. During the period under review, the oil and gas production was impacted primarily by a natural decline at Kunnar, KPD-TAY, Dakhni, Sinjhoro and Nashpa fields. Moreover, lower production was recorded on account
The government realized $666m out of its targeted revenue of $1.5 billion from the upstream petroleum industry for the year 2020 due to the impact of COVID-19.
The drop in the targeted revenue was also attributed to the low oil prices on the international market.
The Manager, Project Evaluation at Petroleum Commission (PC), Ebenezer Harmah, disclosed this at Sekondi on Monday, at a stakeholders’ meeting with the Western Region House of Chiefs attended by the Minister of Energy, Dr Matthew Opoku Prempeh, and the Chieftaincy and Religious Affairs Minister, Mr. Kojo Kum.
Mr. Harmah explained that since the pandemic broke in the country in 2020, there had been a significant drop in crude oil price arising out of demand shock, increased cost of operation, impact on exploration and appraisal investments, investment attraction, and local content development.
Lagos Nigeria’s national gas production in January 2021 increased by 4.79% percent (approximately 5 percent) at 223.55BCF compared to output in December 2020. The NNPC’s latest monthly data report said the boost in gas production for the month under review translates to an average daily production of