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.


http://www.vanguardngr.com/2011/11/nigeria’s-crude-oil-to-dry-up-in-37-years-except…/

pray and hope it dries up faster and earlier than that so that we can face d reality of life.


By the way.can water the ground dry up??Am ye to believe oil will dry up.it is God given just like day and night.

manchy7531:

pray and hope it dries up faster and earlier than that so that we can face d reality of life.


By the way.can water the ground dry up??Am ye to believe oil will dry up.it is God given just like day and night.

Even with it, Nigeria is in bad shape. How do you think Nigeria will look like without it. I don't think it will be a good thing

Boyoorisha:


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.

http://www.vanguardngr.com/2011/11/nigeria’s-crude-oil-to-dry-up-in-37-years-except…/

Of course they won't attend. I'm sure they are not even thinking of this. They probably believe that oil money will flow forever. A bunch of unserious leaders.

make this useless oil dry up with 1 year so that nigerians will start thinking right.

this oil wahala has really been eatin our nation seriously and except it comes to an end, our useless leaders wont understand the true state of things

Can we make it dry up faster?

Even with it, Nigeria is in bad shape. How do you think Nigeria will look like without it. I don't think it will be a good thing

That is a lazy man's thinking.without oil it will be easy for us to split and  am very confident  Biafra will be the most industrialized.I trust my people.We dey kampe.

I just pity the south south people.This is the time to develop themselves but they are playing politic with their future,forgetting the the oil as we were told is non replaceable.if the oil finishes? I know the south south people aside maybe the ibibio and efik are very lazy and useless especially the ijaws,urobo and itsekiri.They have all the wealth but still their people are still the most backwards people in the south.illiteracy is high,joblessness is their hubby,ogogoro is their best friend,waiting for oil company monthy/yearly allowance is their Savior.obviously the igbos in the south-south will go back to their root when then time comes back no doubt about that cos they will not want to be with the next somalia.the SS are afraid of the igbo domination at the same time they so hate themselves.whether oil or on oil the igbo themselves are an economy.for the south west am sure they will be fine as well and they will lure the igbos to come and do non-oil business with them but i don't know where to place the south south asides oil.look at their environment(air,land & water).its one of the worst in the world.that means they cant even do agriculture.the fishes which the can sell are all been killed.fertile farmland are been destroyed.fresh air is been polluted with gas flaring which causes all sorts of illness.who will want to live in the kinda environment?

Jona is their president but he prefers to dance around with dangote and the like in government house instead of remembering his root(i don't blame his imbecility any time i remember he is an ijaw man).BTW am not even sure of an ijaw man ruling this country again till after 100yrs cos the next time it comes to SS it will either be Efik or ibibio.(i love this people.they are our true and trusted brothers).

manchy7531:

That is a lazy man's thinking.without oil it will be easy for us to split and  am very confident  Biafra will be the most industrialized.I trust my people.We dey kampe.

I just pity the south south people.This is the time to develop themselves but they are playing politic with their future,forgetting the the oil as we were told is non replaceable.if the oil finishes? I know the south south people aside maybe the ibibio and efik are very lazy and useless especially the ijaws,urobo and itsekiri.They have all the wealth but still their people are still the most backwards people in the south.illiteracy is high,joblessness is their hubby,ogogoro is their best friend,waiting for oil company monthy/yearly allowance is their Savior.obviously the igbos in the south-south will go back to their root when then time comes back no doubt about that cos they will not want to be with the next somalia.the SS are afraid of the igbo domination at the same time they so hate themselves.whether oil or on oil the igbo themselves are an economy.for the south west am sure they will be fine as well and they will lure the igbos to come and do non-oil business with them but i don't know where to place the south south asides oil.look at their environment(air,land & water).its one of the worst in the world.that means they cant even do agriculture.the fishes which the can sell are all been killed.fertile farmland are been destroyed.fresh air is been polluted with gas flaring which causes all sorts of illness.who will want to live in the kinda environment?

Jona is their president but he prefers to dance around with dangote and the like in government house instead of remembering his root(i don't blame his imbecility any time i remember he is an ijaw man).BTW am not even sure of an ijaw man ruling this country again till after 100yrs cos the next time it comes to SS it will either be Efik or ibibio.(i love this people.they are our true and trusted brothers).

At least, you made a contribution.

Oil is a gift and a curse. It is the reason why Naija government does not listen to us. They do not need our {tax} money. If they did, things would be better.

If we had no oil, we would have no choice but to manufacture stuff. We probably would have constant electricity. Without oil we would come up with creative ways to make money.