The contribution of indigenous firms to oil and gas production and reserves in Nigeria through marginal fields awarded to them in the first licensing round has grown in recent times, adding pressure on the government to expedite action on the next bid round.More indigenous oil firms are seen as positioned to boost Nigeria’s stagnant production and reserves, as the next marginal field bid round is eagerly anticipated to come on stream sooner than later.
“Without necessarily ranging them, I can count five indigenous oil companies that are poised to grow in the upstream sector. They include Energia, Platform, Seplat, Niger Delta Resources, Waltersmith, and Emerald,” Wumi Iledare, president, International Association for Energy Economics, told BusinessDay
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