NPDC oil reserves now at 3.6bn barrels

The Nigerian Petroleum Development Company Limited, NPDC, has put its oil reserve base at 3.6 billion barrels and gas reserve of 15 trillion cubic feet.

The NPDC is the exploration arm of the Nigerian National Petroleum Corporation, NNPC.

These huge reserves are from its involvement in 22 Oil Mining Leases (OMLs) and 7 Oil Prospecting Licenses (OPLs).

The Managing Director of NPDC, Mr. Yusuf Matashi, who made the revelation said the company is poised to lead exploration and production in the country going forward.

He posited that NPDC’s production outlook for 2019/2020 was on the bright side, stressing that the company was aggressively pursuing its drilling and field development programmes as approved by the management of NNPC.

 

Source: Oriental News

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