The deepwater gas production plunged in April 2020 to 41.65 billion standard cubic feet (1.44 billion standard cubic feet per day) amid the coronavirus-induced collapse in crude oil prices and demand from 45.38 bscf (equivalent of 1.56bscf/d) in March. The deepwater oil fields account for about 22 per cent of the total gas production in the country, the NNPC data showed. “Period-to-date production from Joint Ventures, Production Sharing Contracts and NPDC contributed about 69.57 per cent, 21.46 per cent and 8.97 per cent respectively to the total national gas production,” it stated. Nigeria has the largest gas reserves in Africa and the ninth largest in the world but only about 25 per cent of the reserves is being produced or under development. The country’s total gas reserves stood at 203.16 trillion cubic feet as of January 1, 2020, up from 202Tcf in 2019, according to the Department of Petroleum Resources (DPR).

Source: Nigerian Tribune July 29, 2020 04:52 UTC