Marginal fields produce 2.26% of Nigeria’s crude

Marginal fields’ operators are yet to make significant impact on Nigeria’s crude oil production, as they accounted for 2.26 per cent of Nigeria’s total crude production in December 2013, dropping by 12.53 per cent from November’s crude production.

According to data obtained from the Nigerian National Petroleum Corporation’s, NNPC, Monthly Petroleum Information, for December 2013, the country’s marginal fields produced 1.479 million barrels of crude oil, compared to crude oil production of 1.690 million barrels in November.

Of the nine listed marginal fields’ operators, in the summary of fiscalised oil production by company, Oriental Energy recorded the highest crude production in the month under review. The company produced 1.118 million barrels representing 75.6 per cent of total crude production in the marginal fields segment and 1.71 per cent of total crude production for the month.

Midwestern Oil followed with crude production of 145,845 barrels, while Waltersmith Petroman; and Movido Exploration & Production Nigeria Limited, recorded 92,438 barrels and 40,797 barrels of crude oil respectively.

Platform Petroleum produced 37,751 barrels; Niger Delta Petroleum Resources 27,103 barrels while Pillar Oil trailed with 16,535 barrels.

According to the NNPC, Energia and Brittania-U did not record any crude production in the month under review.

In general, a total of 65.43 million barrels of crude oil was produced in December, dropping by 4.44 per cent from a total of 65.43 million barrels recorded in November. This represents a daily average crude production of 2.11 million barrels.

Production Sharing Companies accounted for majority of the crude oil produced, with total crude production of 24.486 million barrels, representing 37.42 per cent of total crude production in the month under review.

Chevron accounted for 31.16 per cent of total crude production in the segment and 11.66 per cent of total crude production in the month under review, with 7.629 million barrels crude production.

SA Petroleum/Total Upstream Nigeria partnership recorded crude production of 4.99 million barrels; Total Upstream produced 3.657 million barrels, while Esso Exploration and Production Nigeria Limited recorded 3.252 million barrels.

Joint Ventures companies’ accounted for 37.05 per cent of total crude production, with 24.241 million barrels of crude oil produced in the month under review.

Alternative Funding-Joint Venture companies produced a total of 9.11 million barrels of crude oil, representing 13.92 per cent of total crude production in the month, while Service Contract companies accounted for 8.91 per cent of total crude production, representing 5.83 million barrels of crude oil.