Nigerian Upstream Regulator Targets 1.7bn Barrels Oil, 7.7tcf Gas in 43 Field Development Plans

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) aims to extract 1.7 billion barrels of crude oil and 7.7 trillion cubic feet of gas from 43 field development plans. This was revealed by NUPRC's Chief Executive, Gbenga Komolafe, at the 43rd Annual International Conference of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos.

The plans include major investments, such as the Bonga North project and Shell's gas project, totaling around $20 billion. The focus is on revitalizing Nigeria's petroleum exploration and production strategies for sustainable development by 2025, with an emphasis on local participation.