Fracking or fracturing is the process of drilling and injecting fluid, usually water, sand and chemicals into the ground at a high pressure in order to fracture shale rocks to release natural gas trapped in it. The released natural gas is thereafter allowed to flow freely to the head of the well. Dillbytes, this week, takes a look as this … Read More
FG Silent as Stakeholders Seek Oil Licensing Round
As some industry stakeholders continue to look forward to another oil licensing round in the country, the Federal Government has yet to unveil any plans towards awarding licences. Over the past few years, operators and other stakeholders in the oil and gas industry have decried the lack of oil licensing rounds despite the government’s quest to increase the nation’s reserves. … Read More
FG Offers Incentives for Oil Exploration in Inland Basins
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has urged the National Association of Petroleum Explorationists (NAPE) to explore the hydrocarbon potentials of green inland (frontier) basins in order to increase the depleting reserves in the country. He said the federal government would be willing to make provisions for incentives for such prospective investors. … Read More
Eni Begins Work on Nigeria’s Deep-water Oil Project
Nigerian Agip Oil Company, a subsidiary of Italian oil major, Eni, said it had embarked on the development of the Zabazaba deepwater project offshore Nigeria despite the low oil price environment. The Vice Chairman, NAOC, Mr. Massimo Insulla, was quoted to have disclosed this in a statement from the Nigerian Content Development and Monitoring Board. The NAOC was said to … Read More
Rethinking NNPC’s Oil Search in the North
Having frittered away billions of naira of state funds in the search for crude oil in the north, the federal government (NNPC) should adopt the successful models used in the Niger Delta, Anambra and Dahomey Basins by incentivising oil companies to embark on exploratory activities in new frontiers. The Niger Delta, which largely dominates the oil-rich Gulf of Guinea, did … Read More
2016 Maybe The Worst Exploration & Production Year Since The Great Depression
According to the latest mid-year forecast assembled by World Oil magazine, only 14,430 wells will be drilled in the U.S. this year, on par with the years 1930-1934, when not a single year topped 20,000 wells drilled. In fact, this will be lowest total for exploration and production since 11,700 wells were drilled in 1933. World Oil has surveyed oil … Read More
Nigeria Government to Commence Oil Exploration in Benue Trough
President Muhammadu Buhari has ordered the Nigerian National Petroleum Corporation, NNPC, to commence the search for crude oil and other hydrocarbon exploration in the Benue Trough. According to a statement by the NNPC, Group Managing Director of the NNPC, Mr. Maikaniti Baru, disclosed this while receiving a delegation from the Benue State Government, who paid him a courtesy visit in … Read More