Marginal fields account for 3% of Nigeria’s oil output in 12 months

October 05, 2016 | Company Operations, Nigeria

Abuja, Nigeria | – Marginal oil fields, have continued to make marginal impact in Nigeria’s crude oil output, as operators in the sector accounted for just 3.01 per cent of Nigeria’s crude oil production in a 12-month period, between July 2015 and June 2016, Nigerian Vanguard newspaper reports.

According to terminal data from the Nigerian National Petroleum Corporation (NNPC), the marginal fields produced a total of 22.51 million barrels of crude oil in the period under review, compared to Nigeria’s total crude oil production of 748.68 million barrels in the 12-month period.

The Nigerian Petroleum Development Company (NPDC), a subsidiary of the NNPC produced 37.62 million barrels of crude oil, accounting for 5.02 per cent of Nigeria’s total crude oil output.

Significantly ahead the marginal fields sub-sector and NPDC, the independents sub-sector accounted for 6.4 per cent of Nigeria’s total crude oil production within the same period, with 47.89 million barrels of crude oil.