The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday met with industry operators and service providers to discuss ways to harness Nigeria’s 1.6 billion barrels of heavy crude oil reserves, of which only 5 percent are currently developed.
Typically, there are light, medium, and heavy crude oils, with heavy crude being highly viscous and unable to flow from production wells under normal reservoir conditions easily.
Speaking during an industry-wide workshop in Abuja organised by the commission, the Chief Executive of the NUPRC, Gbenga Komolafe, noted that given the current dynamics in the sector, Nigeria needs a paradigm shift from traditional, ‘siloed’ approaches towards a collaborative model that leverages the strengths of all stakeholders.
His speech was themed: “Entrenching Accelerated Development of Petroleum Prospecting Licenses (PPL) Assets and Heavy Crude Reserves Through Strategic Partnerships with Technology Drivers and Industry Service Providers.” He said that heavy crude oil is certainly part of our valued hydrocarbon resources yet to be effectively valorized, adding that heavy crude oil, often characterised by its high density and viscosity, presents a significant opportunity for Nigeria’s energy sector.
