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Thursday, June 16, 2022 10:33:08 AM

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$PCTL entering Nigerian Oil & Gas Industry... Nigeria’s oil and gas industry accounts for 10% of the country’s GDP, which is the largest in Africa, worth USD 402 billion. Despite petroleum’s modest contribution to the country’s GDP, it represents 86% of export income and 50% of government revenue. Oil remains the backbone of the nation’s economy. The government aims to increase crude reserves to 40 billion barrels, as well as to achieve a daily national production of 3 million bopd. Together with this push to increase oil production, the Ministry of Petroleum Resources, together with NNPC, has deepened its commitment to focus on Nigeria’s vast gas resources.
NIGERIA'S OIL AND GAS INDUSTRY IN FIGURES
Oil reserves
36.9 billion barrels
Oil production
1.8 million bopd
Gas reserves
5.5 tcm
Gas production
49.4 bcm

The Ministry of Petroleum Resources is responsible for the articulation, implementation and regulation of policies in the Oil and Gas Sector. It also exercises supervisory role over the operators and stakeholders, to ensure compliance with all applicable laws and regulations in the Oil and Gas Sector.
MISSION
Ensure an enabling environment to improve the Oil and Gas value chain, driven by modern technology, industry, best practices, stakeholders’ engagement and innovations in alternative energy.
VISION
We shall deliver a thriving Oil and Gas (Energy) Industry for Nigeria.
Mandate
The Mandate of the Ministry is to formulate policies, supervise their implementation and regulate the Nigerian Oil and Gas (Energy) Industry.
https://petroleumresources.gov.ng/

The Nigerian National Petroleum Corporation is the oil corporation through which the federal government of Nigeria regulates and participates in the country's petroleum industry. The NNPC business operations are managed through Strategic Business and Corporate Services Units (SBUs/CSUs) in diverse locations across Nigeria. In that case; The Nigerian National Petroleum Corporation (NNPC) initiated a recruitment scheme and since then, until date the NNPC recruitment have been a yearly scheme.
NNPC was established on 1 April 1977 as a merger of the Nigerian National Oil Corporation and the Federal Ministry of Petroleum and Energy Resources.[2] NNPC by law manages the joint venture between the Nigerian federal government and a number of foreign multinational corporations, which include Royal Dutch Shell, Agip, ExxonMobil, Total S.A, Chevron, and Texaco (now merged with Chevron). Through collaboration with these companies, the Nigerian government conducts petroleum exploration and production.
https://en.wikipedia.org/wiki/Nigerian_National_Petroleum_Corporation

Sector-Specific Restrictions
Additionally, there are some Nigerian laws that restrict and limit the capacity of foreigners to invest in some sectors in Nigeria. These apply to the following sectors.
Oil and gasto be competitive in the award of contracts, at least 51% of the shares of a company must be owned by Nigerians.

https://practiceguides.chambers.com/practice-guides/doing-business-in-2021/nigeria
Shell in Nigeria
As one of the world’s leading energy companies Shell plays a key role in helping to meet the world’s growing energy demand in economically, environmentally and socially responsible ways. Shell has a history of over 50 years in Nigeria and the largest footprint of all the international oil and gas companies operating in the country.
Shell has been active in Nigeria since 1937. Shell companies and investments have played a pioneering role in onshore, shallow and deep water oil exploration and production. Shell has also been at the forefront of gas development, producing and delivering gas to domestic consumers and export markets for over 40 years.

Our business activities in Nigeria

The Shell Petroleum Development Company of Nigeria Limited (SPDC) is the largest Shell company in Nigeria and produced the country’s first commercial oil exports in 1958. SPDC is the operator of a joint venture (the SPDC JV) between the government-owned Nigerian National Petroleum Corporation – NNPC (55% share), SPDC (30%), Total E&P Nigeria Ltd (10%) and the ENI subsidiary Agip Oil Company Limited (5%). It is focused on onshore and shallow water oil and gas production in the Niger Delta.
Shell Nigeria Exploration and Production Company (SNEPCO) operates the Bonga field, Nigeria’s first deepwater oil discovery. The Bonga facility has the capacity to produce more than 200,000 barrels per day of oil and 150 MM standard cubic feet of gas per day.
Shell Nigeria Gas (SNG) is the only international oil and gas company to set up a gas distribution company in Nigeria to supply industry customers.
Nigeria LNG (NLNG) is a joint venture incorporated in 1989 to produce LNG and natural gas liquids for export. It was Nigeria’s first LNG project. Shell holds a 25.6% share, together with NNPC (49%), Total (15%) and ENI (10.4%).
https://www.shell.com.ng/about-us/who-we-are.html

Agip (Eni Group)
Offices: Port Harcourt, Lagos, Abuja
Address: Naoc New Base Mile 4 Ikwerre Road Port Harcourt
Website:https://www.eni.com
ENI Upstream Ventures in Nigeria:
1. Eni holds a 10.4% interest in the Nigeria LNG Ltd joint venture, which runs the Bonny liquefaction plant located in the Eastern Niger Delta
2. Agip Energy and Natural Resources (AENR) executing the Service Contract with NNPC in OML 116 located in shallow waters (65 meters) offshore Niger Delta
3. Nigerian Agip Exploration (NAE) incorporated in 1996 by eni to manage Nigerian deep offshore exploration and production assets. NAE as at 2013 has interests in six offshore blocks in Nigeria, both as Operator (OML 125, OML 134, OPL 2009 and OPL 245) and Co-Venturer partner (OML 118 and OML 135).

ExxonMobil upstream affiliates operating in Nigeria are Mobil Producing Nigeria Unlimited (MPN) and Esso Exploration and Production Nigeria Ltd. (EEPNL). Our affiliates are involved in the exploration and production of crude oil and natural gas, and operate several joint venture concessions and deepwater production sharing contracts which currently focus on major secondary oil recovery projects; natural gas liquids and gas monetization and significant investment in national content development. How we operate
ExxonMobil affiliates in Nigeria operate guided by strict policies on safety, health, the environment and product safety. These policies reflect our commitment to the highest operational standards and performance. Our OIMS — Operations Integrity Management System — is a disciplined, systematic approach that we employ in all our operations. ExxonMobil developed this system to provide a robust framework for managing safety, security, health and environmental risks. It is used in our facilities worldwide and enables us to measure progress and ensure management accountability for results in these areas.
https://corporate.exxonmobil.com/Locations/Nigeria/Nigeria-business-operations#Whatwedo

TotalEnergies’Nigeria Onigbagbo solar-powered service station paves the way for better energy
TotalEnergies launched its Onigbagbo solar-powered service station in Lagos, Nigeria on June 12, 2014. Built in line with our Committed to Better Energy ambition, it is the first of its kind in West Africa.
The construction of this service station is part of efforts aimed at providing energy solutions that are efficient and environmentally friendly. It represents our commitment towards energising communities and fostering sustainable development. It also illustrates our dedication towards ensuring environmental sustainability, innovation and premium customer service.
https://corporate.totalenergies.ng/

Chevron is one of the largest oil producers in Nigeria and one of its largest investors.
In Nigeria, we operate under a joint-venture arrangement with the Nigerian National Petroleum Corporation (NNPC) for the onshore and offshore assets in the Niger Delta region.
Chevron also has extensive interests in multipartner deepwater operations. We operate the Agbami Field, one of Nigeria’s largest deepwater discoveries. We also have a non operated interest in the Usan Field.
https://www.chevron.com/worldwide/nigeria

PCT LTD Signs Memorandum of Understanding with International Energy Company Providing Cash Infusion and Ongoing Partnership

https://www.otcmarkets.com/stock/PCTL/news/story?e&id=2234987
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