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Nigeria: Oil Production - FG Declares End to Dormant Fields
- On July 1, 2025, Nigeria’s Federal Government declared an end to the era of oil companies holding dormant field licenses to boost national oil production.
- This move responds to tightened global financing and the need to ensure only technically and financially capable operators manage critical national resources.
- Nigeria’s oil output is at approximately 1.745 million barrels per day, with plans to increase production beyond two million barrels daily by the close of 2025, driven by enhanced investments and policy reforms initiated since 2023.
- Minister Lokpobiri urged the National Assembly to reduce summons on oil companies, while Ekpo highlighted Nigeria’s 200 trillion cubic feet of gas reserves require development for value creation.
- The intensified focus on upstream asset optimization and collaboration signals Nigeria’s commitment to revitalizing its oil and gas sectors amid evolving industry challenges.
20 Articles
20 Articles
Indonesia Wants Drilling Partners to Revive Oil Output from Old Wells
Indonesia’s new energy strategy entails attracting oilfield services providers with the latest technology to help the Southeast Asian country revive and increase production from ageing or idle wells. With a reform enacted, oil and gas block operators in Indonesia will be allowed to partner with drilling and service technology providers to raise production from old wells or oilfields, the country’s deputy energy minister Yuliot Tanjung said on Tu…
Maximizing gains in petroleum upstream sector for transformative dev’t
By Justice OFFEI Jr Ghana’s petroleum upstream sector has long served as a key pillar of public financing, national growth, and macroeconomic stability. The sector still holds vast potential—not just in terms of resource extraction, but as a lever for inclusive and transformative development. However, with a consistent decline in oil production—from a peak of 71.44 million barrels in 2019 to a projected 48.25 million barrels in 2024, according t…
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