Nigeria Discovers Additional 3.5 Trillion Cubic Feet Of Gas

Federal Government of Nigeria says an additional 3.53TCF of gas has been discovered.

Gatekeepers News reports that the Federal Government of Nigeria says an additional 3.53 Trillion Cubic Feet (TCF) of gas has been discovered in the country, which will further boost the existing quantum of the reserve to 206.53 TCF.

The Director, Department of Petroleum Resources (DPR), Sarki Auwalu, while speaking at the Nigeria International Petroleum Summit (NIPS), held in Abuja, stated that the 2021 figure, was a major step towards the 220TCF target it set for itself earlier.

Auwalu explained that the quantum of associated gas now stands at 100.73TCF, while non-associated gas is 105.8 TCF to arrive at the new figure, in line with the federal government’s “decade of gas” declaration.

Nigeria being the largest oil producer in Africa and holds the largest natural gas reserves on the continent, was the world’s fifth largest exporter of Liquefied Natural Gas (LNG) in 2018, yet it continues to battle with continual blackouts due to gas shortage to power its electric plants.

The DPR Boss said Nigeria’s human and natural resource coupled with being Africa’s largest economy, places it at a vantage position for investment and participation. He noted that this has encouraged the regulatory agency to continue growing the country’s reserves.

Auwalu stated that Nigeria is positioned to optimally develop its oil and gas resources for the benefit of 200 million shareholders, noting that indigenous operators have a significant role to play in that regard.

He, therefore, assured that government would support local and marginal field operators to grow, share, and enhance participation in the sector for wealth and value creation.

The DPR boss said, “I’m happy to announce that a critical lever to achieve the decade of gas is progressing speedily. Because we surely do have gas reserve growth. First, Nigeria achieved the target of 200 trillion cubic feet of gas as of January 1, 2019, before the 2020 targets. Thereafter, the government set a target of a reserve position of 220 TCF by 2030.

“As a department, we have continued to drive the performance to grow reserve through dedicated gas exploration, deep drilling, optimal appraisal, field studies, and improved oil recovery. It is therefore my pleasure to formally declare the national gas reserve position as of January 1, 2021.

“By the powers conferred upon me by the petroleum drilling and production regulation, 1969, as amended, and other powers enabling me in that respect, I hereby declare as follows: natural gas reserves as of January 1, 2021, now stands at 206.53 trillion cubic feet.

“Of the natural gas reserve as of January 1, 2021, the associated gas position is now 100.73 trillion cubic feet of gas and non-associated gas stands at 105.8 trillion cubic feet of gas, totalling 206.53 trillion cubic feet of gas.”

Auwalu on the recently awarded marginal fields stated that there is a need for more intense work to hasten it and bring about a lot more opportunities in the sector.

The DPR Boss on the opportunities that the industry holds, noted that in the midstream gas sector, there are gaps to be filled in distribution and supply, cross-national pipeline networks as well as opportunities in the gas flare volume that the sector is working towards eliminating.

He added, “There are also potential in services sub-sector, opportunities for power, creation of industrial parks and when you look at the downstream gas and what our indigenous and marginal producers will do, there’s a gap that exists in distribution.”