The Federal Government, through Department of Petroleum Resources, DPR, has resolved to closely monitor the operations of 14 indigenous oil and gas companies involved in managing Nigeria’s marginal fields.
Investigations by correspondent showed that the increased monitoring of the indigenous companies — Oriental, Midwestern, Walter Smith, Niger Delta Petroleum, Green Energy/Lekoil, Network E&P, Platform, Pillar Oil, Prime Energy, Excel E&P, Frontier Oil, Suntrust, Oando and Energia Limited — is targeted at ensuring that they operate in line with set standards and guidelines.
Consequently, this is expected to enable the government achieve set objectives, especially increased indigenous participation, local content and capacity building in the industry, previously dominated by International Oil Companies, IOCs.
The marginal fields were previously owned by the IOCs but left undeveloped before the Federal Government took over and placed them at the bosom of indigenous companies for development in the spirit of local content.
Specifically, they include Ebok, Umasadege and Ibigwe, currently producing 22,000 barrels, 12,000 barrels and 6,259 barrels per day, bpd, and operated by Oriental, Midwestern and Walter Smith respectively.
The fields include Ogele, Otakikpo, Qua Iboe and Ebendo, currently yielding 6,500 barrels, 6,000 barrels, 2,143 barrels and 2,100 bpd, belonging to Niger Delta Petroleum, Green Energy/Lekoil, Network E&P and Energia Limited, respectively.
They include Egbeoma, Umutesi, Assaramatoru and Eremor fields, currently producing 2,006 barrels, 1,500 barrels, 1,200 barrels and 700 bpd, owned by Platform, Pillar Oil, Prime Energy and Excel E&P respectively.
Other fields are Uquo, Umusadege and another, currently producing 520 barrels, 3,600 barrels and 15,000 bpd, owned by Frontier Oil, Suntrust and Oando, respectively.