The Nigerian government anticipates attracting $17.64 billion from 51 approved field development plans between 2022 and 2023. Gbenga Komolafe, the Chief Executive Officer of Nigeria Upstream Petroleum Regulatory Commission (NUPRC), revealed this during the 7th Nigeria International Energy Summit in Abuja on Thursday.
He highlighted that these projects, covering various regions of the nation, represent a significant milestone for the sector, promising substantial economic gains and improved production capacities.
Additionally, he noted that these projects, upon completion, are projected to yield gas recovery of approximately 2.12 billion barrels and 13.13 trillion cubic feet.
“A total of 51 Field Development Plans (were) approved in the year 2022 – 2023, expected to attract a total $17.64 billion investment inflow as well as deliver cumulative oil recovery and gas recovery estimated at 2.12 billion barrels and 13.13 trillion cubic feet respectively in the next five years”, he said.
