Engr Simbi Wabote, Executive Secretary of the Nigerian Content Development and Monitoring Board, NCDMB, says the country’s indigenous oil firms control 60 per cent of the domestic gas supply from zero participation in the past decade.
Wabote disclosed this at a meeting with media stakeholders on Wednesday.
According to him, with Seplat’s acquisition of Mobil Producing Unlimited (MPNU) from ExxonMobil Corporation and Oando’s purchase of Nigerian Agip Oil Company Ltd, the development would positively affect the country’s crude oil production capacity.
“We are proud that we have moved from near zero participation in the oil and gas sector to the point that our indigenous operators such as SEPLAT, AITEO, EROTON, and others are now responsible for 15 per cent of our oil production and 60% of our domestic gas supply.
“With this planned acquisition, the share of local firms in crude oil production could reach 30 per cent or more in a short while”, he stated.
DAILY POST recalls that Oando announced a 100 per cent acquisition of Nigerian Agip Oil Company Ltd less than a month ago.
Also, Seplat, in February 2022, had agreed to acquire a 100 per cent stake in Mobil Producing Unlimited (MPNU).
