With proven oil and gas reserves of about 32.5 billion barrels and 187 trillion cubic feet respectively, numerous investment opportunities abound in upstream operations of the Nigerian Petroleum industry. Our upstream exploration activities are currently held around three major basins: the onshore Anambra, the offshore Benin/Dahomey (deepwater and ultra-deepwater) and the Niger Delta (shallow and deep offshore basins). The Niger Delta and Benin basins are known to be the richest basins in Nigeria and hold the vast majority of reserves, and the source of a large portion of current production. Just before the turn of the millennium, exploration activities focus turned to the frontier basins of the offshore areas, with promising potentials. These ventures became very attractive with advances in technologies that aid deepwater petroleum exploration and production.
Joint Venture Activities
Joint Operating Agreements