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Moving the Oil and Gas Sector to the Next Level ...

Moving the Oil and Gas Sector to the Next Level
2013 Ministerial Mid-term press briefing
Presentation by Diezani Alison-Madueke (Mrs.) CON Honourable Minister, Ministry of Petroleum Resources

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    Ministry of Petroleum Resources Ministry of Petroleum Resources Presentation Transcript

    • 0 Moving the Oil and Gas Sector to the Next Level Presentation by Diezani Alison-Madueke (Mrs.) CON Honourable Minister, Ministry of Petroleum Resources Abuja 18 June, 2013 2013 Ministerial Mid-term press briefing
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Over the Past 2 years, we have Delivered on Mr. President’s Transformation Agenda in Key Strategic Growth Areas 1 Governance culture Infrastructure and Human Capital Monitoring and Evaluation President’s Transformation Agenda Building sustainable industries with indigenous equal opportunities Delivering quality products to Nigerians FederalMinistryofPetroleumStrategicgrowthareas Key accomplishments 2010 - 2013 Creating oil and gas institutions of the future Downstream  Ensured stable supply of petroleum products  Effective and efficient administration of subsidies  Increased domestic refining Local capacity and job creation  Indigenous, local investment in infrastructure  Upgraded training facilities  Increased regulatory and compliance around the employment  Gas commercialisation / Infrastructure  Repair and upgrade of Midstream oil facilities Upstream  Increased exploration  Sustained crude oil production  Increased upstream domestic gas supply Midstream
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Increase Reserves and Production Increased Frontier Exploration 2
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Increase Reserves and Production Upgrade of Data Processing Centre (DPC) Before DPC Upgrade 3 After DPC Upgrade
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Grow NPDC Operated Production Growth in NPDC Reserves Due to Asset Transfer 4 176 Oil reserves (mm bbl) Gas reserves (bscf) Profile (Reserves) 1- Excludes 61 mmbbl of condensate 2- 30% risk provision has been subtracted from the expected reserves of 1600 mm bbl of oil and 6900 bscf of gas 632 431443429 2011 1,723 6031 1,1202 1009082007 2,778 2,785 1,8371,8371,809 2011 7,608 2007 4,8302 100908 New assets
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Increase Reserves and Production Sustaining Production Amidst Vandalism and Crude Theft 5 1.70 1.80 1.90 2.00 2.10 2.20 2.30 2.40 2.50 2.60 2.70 Nigeria's Crude Oil Production 2007 – April, 2013 (Bbl/d)
    • Federal Ministry of Petroleum Resources 6 President Goodluck E. Jonathan and Petroleum Minister onboard the USAN FPSO for Project Commissioning. Top Management of TOTAL and some Government Officials onboard USAN FPSO during the Project Commissioning. USAN FPSO Moving the Oil and Gas Sector to the Next Level Commissioning of USAN FPSO
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Grow NPDC Operated Production SPDC Divestment and Transfer of Government Equity to NPDC ▪ Divestment in the upstream by SPDC/Total/Agip creating an opportunity for participation by the Nigerian upstream players ▪ SPDC/Total/Agip divested 8 blocks: – OMLs 4,38 & 41 – Seplat – OML 26 – First Hydrocarbon – OML 30 – Heritage – OML 34 – Niger Delta – OML 40 – Elcrest – OML 42 – Neconde • NPDC, NNPC’s wholly owned subsidiary, was assigned all of NNPC’s equity in the SPDC divested JV blocks. Terrain Concession NPDC interest (%) Status Operating party OML 64 100 Non producing NPDC/SIPEC hore Swamp OML 66 100 Non producing NPDC/SIPEC OML 111 100 Producing NPDC Land OML65 100 Producing NPDC OML s 4/38/41 55 Producing NPDC/ SEPLAT OML s 26/30/34/40/42 55 Producing NPDC tinental Shelf OML 119 100 Producing NPDC Deepwater OPL 244 10 Exploration Agip OPL 242 50 Exploration Nil OPL 214 15 Exploration ExxonMobil OPL 223 10 Exploration Elf OPL 251 15 New Interest Ashbert/NPDC OPL 325 20 New Ashbert/NPDC NPDC owned/operated acreage NPDC involved PSC acreage Recently Assigned acreage Acreage with NPDC Operated NNPC JV fields Profile (Assets & Resources)
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Grow NPDC Operated Production NPDC Growth and Optimisation Plan Prior to Asset Transfer 8 NPDC growth scenario to 250,000 bpd by 2015 0 50 100 150 200 250 161 201520142013201220112010 Growth scenario 1599 2011 1634 2010 1661 2016 1517 2015 1601 2014 1665 2013 1671 2012 OML 119 OML 111 OML 65 OML 64/66 New fields Hydrocarbon Production kbpd Reserves (P1 + P2) Mmboe Infill (Development drilling) OML 65 base production Exploratory drilling Gas monetisation OML 111 base productionField optimisation OML 64/66 wells New fields OML 119 base production
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Grow NPDC Operated Production NPDC Growth and Optimisation Plan Post Asset Transfers 9 183 Growth & Optimisation (Oil&Gas production – forecast per source of growth) ▪ The largest contributor to NPDC production growth will be the taking over of OMLs 26, 30, 34, 40 and 42 191 257 334 340 321 291 265 242 221 202 186 Year Average1 350 300 250 200 150 100 50 0 345 315 233 91 Base production Well interventions New development wells Gas monetization (excluding new assets) New assets 201520142013 202120202017 20192016 201812.2011 2012 1 Excluding potential projects beyond 2014 Kboepd Year average1
    • Federal Ministry of Petroleum Resources 10 12 37 131213 84 3937 3443 39 3333 31 30 23 20 151619 2828 33 20% 100% 80% 60% 40% 0% 2012201111009082007 Domestic power and industry Exported Upstream Use Flared Share of total gas production Upstream use Export Flaring Power Industry & other Gas produced Reaching Nigerian users (less than 1,000 mmscfd) Not reaching Nigerian users Share of gas produced, average 2007-2011YTD xx Mmscfd, percent Gas production, mmscfd 6,600 6,250 5,050 6,850 7,850 7,911 Total gas produced, mmcsfd ~90% ~10% 25% 27% 40% Moving the Oil and Gas Sector to the Next Level Strategic Objective: Increase Domestic Utilisation of Gas Upstream Gas Supply: Historical gas usage in Nigeria 7,911
    • Federal Ministry of Petroleum Resources 11 Gas supply almost doubled between 2010 and 2013. Power sector most dominant consumer Moving the Oil and Gas Sector to the Next Level Strategic Objective: Increase Domestic Utilisation of Gas Unprecedented Growth in Gas Supply
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Midstream Gas 12
    • Federal Ministry of Petroleum Resources 13 Moving the Oil and Gas Sector to the Next Level Strategic Objective: Link Gas to the Wider Economy Midstream: Gas Agenda GAS TO POWER “… we would have positioned Nigeria firmly as the undisputed regional hub for gas-based industries such as fertilizer, petrochemicals and methanol.” GAS BASED INDUSTRIALISATION HIGH VALUE EXPORT STRATEGIC THEMES NATURAL GAS • Consolidate Nigeria’s position and market share in high value export markets • Create regional hub for gas- based industries – fertilizer, petrochemical and methanol • Transform gas sector to value adding sector • Deliver gas for at least threefold increase in generation capacity by 2015 LNG Regional Pipelines Recognizing the potential for tremendous economic growth inherent in the nation’s vast natural gas resources, His Excellency, President Goodluck Jonathan, outlined a 3 point mandate for natural gas comprising • Boost in gas supply to the Power sector • Stimulation of gas based industrialization around Fertilizer, Petrochemicals, Methanol etc., effectively leveraging gas as feedstock for key industries, thus creating jobs and • Selective investment in high value regional pipeline and LNG export opportunities to boost revenues from gas sales
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Link Gas to the Wider Economy Midstream Gas: Emergency Gas Supply Initiative 14 Early Production Facility in OREDO
    • Federal Ministry of Petroleum Resources Gas Supply to Power Plants (2013-15) Moving the Oil and Gas Sector to the Next Level Strategic Objective: Link Gas to the Wider Economy Midstream Gas: Increased Power Supply
    • Federal Ministry of Petroleum Resources Gas to Power (Longer Term View) Moving the Oil and Gas Sector to the Next Level Strategic Objective: Link Gas to the Wider Economy Midstream Gas: Increased Power Supply
    • Federal Ministry of Petroleum Resources 17  Oben- Geregu Pipeline  Expansion of Escravos – Oben Pipeline  Itoki - Olorunshogo Permanent Gas Pipeline  Imo River – Alaoji Pipeline  Ob/Ob – Oben (Ob3) Pipeline Planned gas supply availability  Calabar-Ajaokuta & Ajaokuta - Kano Pipeline Systems  Expansion of Oben - Lagos Pipeline Moving the Oil and Gas Sector to the Next Level Strategic Objective: Link Gas to the Wider Economy Midstream Gas: Aggressive Gas Pipeline Expansion
    • Federal Ministry of Petroleum Resources 18 Stringed Pipeline at OlorunshogoPipe loading Mainline welding activities Moving the Oil and Gas Sector to the Next Level Strategic Objective: Link Gas to the Wider Economy Midstream Gas: Construction of the Oben-Lagos Pipeline
    • Federal Ministry of Petroleum Resources 19 Domestic Gas Pricing now reviewed towards export parity, creating investor confidence in supply development Domestic gas pricing now significantly more attractive to investors! Moving the Oil and Gas Sector to the Next Level Strategic Objective: Link Gas to the Wider Economy Midstream Gas: Commercial Framework Policy review
    • Federal Ministry of Petroleum Resources 203D Imagery of Proposed Gas Industrial City - Fertilizer, Petrochemicals, Methanol, Power, Gas Processing, Housing Moving the Oil and Gas Sector to the Next Level Strategic Objective: Link Gas to the Wider Economy Midstream Gas: Geotechnical Surveys at Ogidigben Industrial City
    • Federal Ministry of Petroleum Resources 21 CPTU Location Site Activities ongoing - soil testing, geotechnical and related surveys Moving the Oil and Gas Sector to the Next Level Strategic Objective: Link Gas to the Wider Economy Midstream Gas: Geotechnical Surveys at Ogidigben Industrial City
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Link Gas to the Wider Economy Midstream Gas: Gas Supply to Non-Power Sector 22 1 Growth in Non Power Sector Demand - Cement and Manufacturing Industries • Dangote Obajana Cement • Dangote Ibese Cement • Lafarge Ewekoro • Lafarge Sagamu • Indorama • Notore • Omowood • Mix & Bake • Purechem • Green Gas • Ringardas • Abeokuta Customers • Wempco • WA Ceramic
    • Federal Ministry of Petroleum Resources 23 Over 2000 taxis now run on natural gas in Benin city. 6 Filling stations owned by NNPC/NIPCO JV Moving the Oil and Gas Sector to the Next Level Strategic Objective: Link Gas to the Wider Economy Midstream Gas: Compressed Gas Use in Gas
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Midstream Oil (Refineries) 24
    • Federal Ministry of Petroleum Resources 25 Moving the Oil and Gas Sector to the Next Level Strategic Objective: Sustaining In-country Product Supply Midstream Oil Infrastructure
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Sustaining In-country Product Supply Refinery Rehabilitation Program 26 Strategic objective of the TAM is to drive up average utilization of refineries to 90%, thus creating domestic self sufficiency in HHK and AGO, whilst significantly reducing imports of PMS
    • Federal Ministry of Petroleum Resources Removal of the external wall of the vapourising bank The external wall tube panels being removed 27 Installed frontal wall tubes Dye check of the open pass welded flats Moving the Oil and Gas Sector to the Next Level Strategic Objective: Sustaining In-country Product Supply PHRC Early Works: Overhaul/Re-tubing of B03 has been Completed. B02 is about to Commence
    • Federal Ministry of Petroleum Resources Completely boxed up 12E01A The cone of Combined feed exchanger, 12E01A being dropped after decoupling 28 Moving the Oil and Gas Sector to the Next Level Strategic Objective: Sustaining In-country Product Supply PHRC Early Works: 12E01A (Combined Feed Exchanger) Hydrotest Completed and in Service Preparation for hydrotest on 12E01A/B
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Sustaining In-country Product Supply Rehabilitation of Crude Tank in PHRC 29 Jack-up for civil and mechanical works in Feb 2013 Mech works finished, and painting ongoing as at June 6, 2013 Rehabilitation of crude tank 50TK01A is ongoing Early works Strategy preparatory for Refineries Rehab activities
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Midstream Oil (Pipelines & Products Marketing Company) 30
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Sustaining Product Supply through Facility Upgrade 31 THE GOVERNOR OF ABIA STATE (MIDDLE) CUT THE TAPE AS HE RECOMMISSION THE ABA DEPOT, WHILE THE MD PPMC, GMD NNPC AND SENATE COMMITTEE MEMBER WATCH WITH INTEREST
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Sustaining Product Supply through Facility Upgrade 32 THE HMPR, MRS. DIEZANI ALISON-MADUEKE BEING ASSISTED FROM FROM LEFT THE GOVERNOR OF EDO STATE, MD PPMC, GED E&P AND GMD NNPC WHILE RE-COMMISSIONING THE BENIN DEPOT
    • Federal Ministry of Petroleum Resources 33 Damaged Okrika Jetty before re-construction New Okrika Jetty after re-design and construction Moving the Oil and Gas Sector to the Next Level Rehabilitation Works at Okrika Jetty
    • Federal Ministry of Petroleum Resources 34 Moving the Oil and Gas Sector to the Next Level Re-commissioning of Okrika Jetty
    • Federal Ministry of Petroleum Resources 35 Moving the Oil and Gas Sector to the Next Level Emergency Reconstruction of Atas Cove- Mosimi pipeline Using HDD EMERGENCY RE-CONSTRUCT OF ATLAS COVE - MOSIMI PIPELINE SECTION AT AREPO & IJEODODO SWAMPS USING HORIZONTAL DIRECTIONAL DRILLING (HDD) SITE PROGRESS PICTURE
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Sustaining Product Supply through Facility Upgrade 36 NEW LOADING FACILITIES AT THE BENIN DEPOT
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Sustaining Product Supply through Facility Upgrade 37 EXPANSION OF CALABAR LOADING GANTRY & PUMP FACILITIES
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Sustaining Product Supply through Facility Upgrade 38 EXPANSION OF CALABAR LOADING GANTRY & PUMP FACILITIES
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Sustaining Product Supply through Facility Upgrade 39 ATLAS COVE CALM BUOY CHANGE-OUT
    • Federal Ministry of Petroleum Resources 40 2010 31,238 56,536 64,457 2011 2012 921 2,296 2,668 - 500 1,000 1,500 2,000 2,500 3,000 2010 2011 2012 Trading Turnover ($’Million)Trading Volumes (Barrels/Day) NNPC has also enhanced its direct participation in the international trading of crude oil through an active involvement of its subsidiary, Duke Oil. Duke Oil’s trading activity has grown significantly over the last 3 years. Moving the Oil and Gas Sector to the Next Level Strategic Objective: Grow NNPC’s Trading Operations Bulk Trading Activities
    • Federal Ministry of Petroleum Resources Downstream Oil 41
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Sustaining In-country Product Supply Retail Strategic Plan Aspirations (Deregulated Scenario) 42 Projected NNPC Retail revenue- deregulated from 2014 Naira, billions Market Share 12% 13% 15% 17% 19% # of stations 418 403 505 616 796 589 495 291 188151 +41% +39% 20152012 2013 20142011 +42% • Revenue Generation from NNPC downstream retail activities have grown significantly (by 39%) during the last 3years, growing from N 151BN to N219BN • No of retail outlets has increased from 418 to 505 thereby, increasing NNPC’s domestic market share from 12% to 15%.NNPC targets more aggressive growth (42%) in the coming years NNPC Retail has already become the market leader and the choice brand in the Nigerian petroleum retail business.
    • Federal Ministry of Petroleum Resources 43 Moving the Oil and Gas Sector to the Next Level Strategic Objective: Sustaining In-country Product Supply Implementing NNPC Retail Growth Strategy NNPC Retail’s Mega Station – Large Volume 24 nozzle station located in each State Capital and FCT
    • Federal Ministry of Petroleum Resources 44 Moving the Oil and Gas Sector to the Next Level Strategic Objective: Sustaining In-country Product Supply NNPC Retail Floating Stations: Reaching the Riverine Communities NNPC FLOATING MEGA STATIONS – Providing riverine communities in the Niger Delta easy access to quality petroleum products at approved prices.
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Sustaining In-country Product Supply NNPC Branded Trucks 45
    • Federal Ministry of Petroleum Resources 46 AN EXAMPLE OF LPG SKID FOR FILLING OF CYLINDERS NNPC RETAIL BRANDED LPG CYLINDER NNPC BRANDED LUBRICANT CONTAINER Moving the Oil and Gas Sector to the Next Level Strategic Objective: Sustaining In-country Product Supply NNPC Retail Product Diversification
    • Federal Ministry of Petroleum Resources BACK UP / LINKED CHARTS 47 Moving the oil and gas sector to the next level
    • Federal Ministry of Petroleum Resources INCREASED NIGERIAN CONTENT AND SUSTAINABLE LOCAL CAPACITY 48
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Increase Nigerian Participation in Oil and Gas Industry Our efforts in local content have generated over 30,000 jobs1 and significantly deepened the local supply chain 49
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Increase Nigerian Participation in Oil and Gas Industry Facilities upgrade from 100% Local Materials 501 In Engineering, Fabrication, E&P and Marine transportation Anchored in Nigerian local content law Indigenous companies are major players in the industry (e.g., SCC Pipe Mill in Abuja Key infrastructure and investment is now locally owned (e.g., Marine vessels, land swamp and offshore rigs) ITUT/ABANG Platform OKRIKA Jetty
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Strategic Objective: Increase Nigerian Participation in Oil and Gas Industry Capacity Building: Federal Polytechnic of Oil and Gas Ekowe – Bayelsa State 51
    • Federal Ministry of Petroleum Resources HYDROCARBON POLLUTION RESTORATION PROJECT (HYPREP) 52
    • Federal Ministry of Petroleum Resources 53 Moving the Oil and Gas Sector to the Next Level The Hydrocarbon Pollution Restoration Project (HYPREP) provides for hydrocarbon polluted communities Effort to improve environment and socio-economic opportunities for affected communities Embraced the community driven (CDD) approach to ensure a multiplier effect with replicable results Rehabilitating the devastation from excessive exploration in the area (e.g., drinking water tanks across Oghoni land) Alongside HYPREP, we are documenting oil spill sites in 9 states in Niger Delta
    • Federal Ministry of Petroleum Resources PETROLEUM SPECIAL TASK FOTCES / PIB 54
    • Federal Ministry of Petroleum Resources Moving the oil and gas sector to the next level 4 special taskforces have been the catalysts driving our ability to deliver transformative change Special task forces 55 PIB Governance and controls Petroleum revenue National Refineries ▪ Reviewed all sections of the PIB and harmonised existing different versions to produce a draft copy to the National Assembly ▪ Reviewed management controls within NNPC and other parastatals to design a new corporate governance code for transparency, good governance, best practices ▪ Verified all petroleum upstream and downstream revenues payable to government. ▪ Integrated system and technology across production chain ▪ Assessed PHRC , WRPC, KRPC to improve efficiency and commercial viability ▪ Created several tools to track performance, and evaluate new refineries
    • Federal Ministry of Petroleum Resources Moving the oil and gas sector to the next level The PIB will provide for a transparent regulatory framework and commercially viable NOC to sustain a competitive oil & gas industry 56 Fulfilling the objectives of the PIB would ensure that Nigeria builds world class institutions of the future… … and can sustainably deliver quality products while serving as an example across the continent The PIB is anchored on recreating an industry that is open, fair and transparent with fiscal rules of general application and regulatory monitoring that is consistent with international best practices. Such a reform would make Nigeria an attractive region for oil and gas investment by reducing the risk premium associated with poor governance of the oil and gas industry. What in essence I have thus far described, is an industry that is not static in a global economy that is dynamic. The industry needs to find a new dynamism, which in my view the enactment of the PIB should herald “ ”MoPR Diezani Allison-Madueke ▪ To enhance Exploration and production of petroleum resources ▪ To significantly increase DomGas supplies especially for Power and industry ▪ Create a competitive Business environment ▪ To establish a fiscal framework that is flexible, stable and competitively attractive ▪ To create a commercially viable National Oil company ▪ To create efficient regulatory institutions ▪ To engender Transparency and accountability ▪ Establishment of a department in the ministry charged with Frontier Exploration Services ▪ To promote Nigerian Content ▪ Ensure that Nigeria builds world-class institutions of the future …
    • Federal Ministry of Petroleum Resources Final Summary 57
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Summary of Accomplishments 58 Upstream Midstream Downstream Local capacity and employment ▪ Increased exploration in the frontier basins ▪ National crude oil production peaked at 2.5mbpd ▪ An additional 180 000bpd of crude from deep- water ▪ Transfer of SPDC fields to NPDC supporting 130 000bpd and 300 mmscfd gas  Increased upstream gas supply ▪ Deregulated downstream with a new pricing regime backed by SURE-P  Ensured stable supply of petroleum products  Effective and efficient administration of subsidies  Increased domestic refining  Launched HYPREP to deal with hydro carbon pollution. ▪ Stewarding enabling policy initiatives in gas sectors. ▪ Added 3 new CPFs alongside critical gas pipelines including ELPS, Escravos to Warri etc. totalling 200km ▪ Established the gas aggregation company of Nigeria (GACN) to enforce DSO ▪ Gas sales rose to ~4Bscfd as direct result of 12- month emergency gas plan and other gas revolution activities. ▪ Midstream Oil - Sustaining product supply through facility upgrade ▪ Created over 30,000 jobs anchored on Nigerian local content law ▪ Indigenous companies active in recent IOC divestment ▪ Upgraded NigerDock fabrication and Abang and Itut platforms from 100% local materials ▪ Established the Federal Polytechnics of Oil and Gas in EKowe and Bonny and numerous up grades in training facilities
    • Federal Ministry of Petroleum Resources Moving the oil and gas sector to the next level Reduction in petroleum product import 59 910.22 1,053.30 715.27 422.82 0 100 200 300 400 500 600 700 800 900 1,000 1,100 Billion Naira 2012201120102009 Oil and Gas Contribution to the Federation Account (Surplus After Tax) Oil and Gas Contribution to the Federation has grown significantly in the last 5 years *(Jan –June)
    • Federal Ministry of Petroleum Resources Moving the oil and gas sector to the next level Reduction in petroleum product import 60
    • Federal Ministry of Petroleum Resources Moving the Oil and Gas Sector to the Next Level Our success in mid-stream gas is anchored in the gas-revolution program and key infrastructure developments 61 Commissioning OREDO Gas Project