Shocking! Nigeria’s Crude Oil To Dry Up In 36 Years

Date: 11-02-2012 10:45 pm (12 years ago) | Author: Daniel Bosai
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- at 11-02-2012 10:45 PM (12 years ago)
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EXCEPT the Federal Government urgently creates aggressive policies of hydrocarbon reserves replacement, geologists and other stakeholders in the oil sector have raised an alarm that the nation’s crude oil reserve would be totally depleted in the next 37 years precisely by 2048.



Stakeholders are currently worried that with a production output of 2.5 million barrels of oil equivalent per day, Nigeria currently depletes about 1 billion barrels of crude oil annually from its 37.2 billion barrels of hydrocarbon reserves.

This was the position of Mr. Guy Maurice, Managing Director of Total Upstream Companies in Nigeria, at the opening of the 29th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists, in Lagos, yesterday.

According to him, policies must be put in place for industry to gain a lot of time in the contracting cycle, especially by drastically shortening and reducing the time to access rigs for exploration in the Nigerian waters, “the country should make reserves replacement a priority.

“If we take a critical look at perspectives for growing reserves in the next decade, the answer is exploration, exploration and more explorations to run parallel to development projects, which are also becoming more and more expensive to execute, due to slippages in complex contractual environment, couple with security challenges.”

Several stakeholders and operators in the nation’s oil and gas sector have lamented the highly noticeable absence of the Federal Government, especially the Minister of Petroleum Resources, Mrs Diezani Allison-Madueke and the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mr. Austen Oniwon from the opening ceremony.

The conference which had the theme “Perspectives on Growing Hydrocarbon Reserves in the Next Decade” is one of the annual major conferences and exhibition in the oil and gas industry.


Posted: at 11-02-2012 10:45 PM (12 years ago) | Addicted Hero
- M-dread at 11-02-2012 11:40 PM (12 years ago)
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Hiss..who cares.Next.
Posted: at 11-02-2012 11:40 PM (12 years ago) | Upcoming
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- youngchopper at 12-02-2012 12:51 AM (12 years ago)
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*nta news* lord abeg make d oil dry up nw nw na. Nonsence
Posted: at 12-02-2012 12:51 AM (12 years ago) | Newbie
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- lopez2424 at 12-02-2012 12:53 AM (12 years ago)
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 Huh? Huh?
Posted: at 12-02-2012 12:53 AM (12 years ago) | Upcoming
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- tonjos at 12-02-2012 01:13 AM (12 years ago)
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Ehn if e dry up, we go back too farmer abi Wetin u tink
Posted: at 12-02-2012 01:13 AM (12 years ago) | Newbie
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- ZION7ZION at 12-02-2012 01:45 AM (12 years ago)
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Quote from: popinje on 12-02-2012 01:26 AM
hmnnn, good news, i 4 even want make d oil dry up now, make we see watin all dis ole jankoriko wey  dey 4 government go dey steal. d oil self 1 almost be like corse 2 d nation.........abeg make d oil dry up jooo Grin

i think i agree with you completely, let it dry for 3months, lets see if Nigeria as a Nation, will remember other mineral resources God has blessed us with.
Posted: at 12-02-2012 01:45 AM (12 years ago) | Gistmaniac
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- Ifemylove at 12-02-2012 01:50 AM (12 years ago)
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i wonder wat we gained b4, GOD knws hw he's goin 2 save us wen d tym comes.....if d oil wnt's 2 dry nw, let it dry
Posted: at 12-02-2012 01:50 AM (12 years ago) | Gistmaniac
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- ucbooo at 12-02-2012 02:45 AM (12 years ago)
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ebeta mak the oil dry today today, so that 9ja will know how to invest in Agriculture, every body eye na for oil they forget that agriculture has been feeding many many country with oil. look at Malaysia. 9JA give them palm oil, they utilize it and Malaysia is the richest in palm oil producing in the world. so make the oil dry in 9ja make every body go answer his papa name, the northern s had forget about the blessings from GOD, And all they cares now is crude oil hope it will dry today .
Posted: at 12-02-2012 02:45 AM (12 years ago) | Upcoming
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- starlove1 at 12-02-2012 03:06 AM (12 years ago)
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if the oil like make en dry up now , because since some year now we don't have oil Nigeria we inport oil from another country
Posted: at 12-02-2012 03:06 AM (12 years ago) | Upcoming
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- slimber at 12-02-2012 03:32 AM (12 years ago)
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crude oil all the time ,make the oil dry up now so everybody go return to their villages to go do farm work.RUBBISH I NO FIT SHOUT
Posted: at 12-02-2012 03:32 AM (12 years ago) | Hero
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- M-dread at 12-02-2012 03:35 AM (12 years ago)
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Prayer mood activated nw for the Crude Ororo to dry veri fast.God abeg accept dis prayer with speed.
Posted: at 12-02-2012 03:35 AM (12 years ago) | Upcoming
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- etiese at 12-02-2012 04:57 AM (12 years ago)
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Well, i dont think so. The reserve quoted here is 1P reserve. beside the economic and tehnical recovery factor for hydrcarbon from a tertiary formation like the niger delta would not be more than 50%. We still have a prolific hydrocarbon reserve in the high pressure offshore zone. Remember Niger Delta is a gas-prone area not oil-prone.
Posted: at 12-02-2012 04:57 AM (12 years ago) | Upcoming
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- lertipha at 12-02-2012 05:23 AM (12 years ago)
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Even when it dint dry up,are we nigerians benefiting from the crude oil. Spare me story abeg.
Posted: at 12-02-2012 05:23 AM (12 years ago) | Upcoming
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- estilizo at 12-02-2012 05:23 AM (12 years ago)
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hnmm here is some bad news...wowww,

Posted: at 12-02-2012 05:23 AM (12 years ago) | Gistmaniac
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- Norred at 12-02-2012 05:34 AM (12 years ago)
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O great it keep getting better......The only one thing they have is about to dry up....
Posted: at 12-02-2012 05:34 AM (12 years ago) | Upcoming
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- malvin2525 at 12-02-2012 05:40 AM (12 years ago)
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 Shocked Shocked Shocked Shocked
Posted: at 12-02-2012 05:40 AM (12 years ago) | Gistmaniac
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- escapedprince at 12-02-2012 06:01 AM (12 years ago)
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What difference will it make?? Even with the oil wealth,most Nigerians are living below poverty line,
From my own perspective,the oil is a cause in disguise !!! With it's discovery,our leaders shunned other areas of economic development,and relied solely on crude export for revenue. Sad Sad Sad
Posted: at 12-02-2012 06:01 AM (12 years ago) | Gistmaniac
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- aso4life1 at 12-02-2012 06:35 AM (12 years ago)
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make he dry so that we can tap other talents....its in my prayers that the oil should dry for just 6 months, so that we can use our raw resources wisely... agriculture is suffering,science and all

Posted: at 12-02-2012 06:35 AM (12 years ago) | Hero
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- Unikpearl at 12-02-2012 08:04 AM (12 years ago)
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Na wetin go depend on...
Posted: at 12-02-2012 08:04 AM (12 years ago) | Gistmaniac
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- ajanni at 12-02-2012 08:19 AM (12 years ago)
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Quote from: Unikpearl on 12-02-2012 08:04 AM
Na wetin go depend on...
we go depend on the lotters  of the tresurey now
Posted: at 12-02-2012 08:19 AM (12 years ago) | Grande Master
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