The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the nation’s oil and condensate reserves status as at Jan. 1, 2022 is 37.046 billion barrels.
On initiatives to enhance gas production, he said the Russia and Ukraine conflict and the attendant disruptions to global gas demand-supply chain provided Nigeria with a unique opportunity to fill the gap.
“With a proven gas reserve base of 208.62TCF (as at 1st January 2022), we are on track to increase our reserves volumes to 220TCF in less than 10 years and 250TCF thereafter.
He further mentioned another initiatives being implemented by the commission to increase gas production and utilisation to include; commencement of mandatory conduct of gas well deliverability tests for all gas producers to establish operating limits.
He said it was currently revising the Flare Gas Regulations 2018 and its associated Guidelines to incorporate methane emissions capture, to ensure the elimination of gas flaring/venting and monetisation of gas resources in the country
