Engr Simbi Wabote, Executive Secretary of the Nigerian Content Development and Monitoring Board, NCDMB, says the nation’s indigenous oil firms control 60 per cent of the domestic gas supply from zero participation in the previous decade.
Wabote disclosed this at a gathering with media stakeholders on Wednesday.
According to him, with Seplat’s acquisition of Mobil Producing Unlimited (MPNU) from ExxonMobil Corporation and Oando’s buy of Nigerian Agip Oil Company Ltd, the event would positively have an effect on the nation’s crude oil manufacturing capability.
“We are proud that we have moved from near zero participation in the oil and gas sector to the point that our indigenous operators such as SEPLAT, AITEO, EROTON, and others are now responsible for 15 per cent of our oil production and 60% of our domestic gas supply.
“With this planned acquisition, the share of local firms in crude oil production could reach 30 per cent or more in a short while”, he said.
Media Talk Africa remembers that Oando introduced a 100 per cent acquisition of Nigerian Agip Oil Company Ltd lower than a month in the past.
Also, Seplat, in February 2022, had agreed to accumulate a 100 per cent stake in Mobil Producing Unlimited (MPNU).
