So you want to buy a marginal field in Nigeria? Heck, who doesn't want to, right now? Ok, I get it. I got you covered. Let's do a burlesque style thread about the whole process, shall we?

Congrats on your decision. Like one million other people who have also just made this decision, you are on the road to hardship, sleepless nights and potential disappointment but you might make a few millions so congrats again.

Nigerian govt couldn't have chosen a better time. Oil is in the $30s, PIB is not passed, US no longer needs our oil, China is yet to recover, OPEC has cut output, bank loans to O&G sector are in trouble. History will likely say 'it was the best of times and the worst of times'

But they have no choice really, its a revenue drive. There are probably about 60+ fields that are available and even if all you get is $5m as signature bonus, then a share of the cut on the field valuation, FG could book some real good millions, not so sure about billions

What Are Marginal Fields?
Well you could say they are used fields (okrika fields) but that won't be fair to the ones which just never got developed because the IOC that owned them just never got to developing them. So let's give a serious definition, shall we? (deep breath)

A marginal field is a small field with reserves undeveloped that has been relinquished by an IOC or deemed commercially unprofitable for the IOC but not for a smaller producer. IOC - Intl Oil Company - Shell, Total, Agip, Chevron, Exxon, etc. So a gateway into the big leagues!!

But you get the........................................


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jukekeocha:
So you want to buy a marginal field in Nigeria? Heck, who doesn't want to, right now? Ok, I get it. I got you covered. Let's do a burlesque style thread about the whole process, shall we?

Congrats on your decision. Like one million other people who have also just made this decision, you are on the road to hardship, sleepless nights and potential disappointment but you might make a few millions so congrats again.

Nigerian govt couldn't have chosen a better time. Oil is in the $30s, PIB is not passed, US no longer needs our oil, China is yet to recover, OPEC has cut output, bank loans to O&G sector are in trouble. History will likely say 'it was the best of times and the worst of times'

But they have no choice really, its a revenue drive. There are probably about 60+ fields that are available and even if all you get is $5m as signature bonus, then a share of the cut on the field valuation, FG could book some real good millions, not so sure about billions

What Are Marginal Fields?
Well you could say they are used fields (okrika fields) but that won't be fair to the ones which just never got developed because the IOC that owned them just never got to developing them. So let's give a serious definition, shall we? (deep breath)

A marginal field is a small field with reserves undeveloped that has been relinquished by an IOC or deemed commercially unprofitable for the IOC but not for a smaller producer. IOC - Intl Oil Company - Shell, Total, Agip, Chevron, Exxon, etc. So a gateway into the big leagues!!

But you get the........................................


Continue reading How to buy a marginal field in Nigeria
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Your article appears to suggest that anyone can just go out and buy a marginal oil field...this is incorrect