New York, NY, June 10, 2013 --(PR.com
)-- Research company Frontier Markets Capital publishes report on Oil & Gas Industry in Nigeria
Nigeria possesses immense natural gas reserves. This natural endowment could have guarantee a bright future for this vast country. With more than 160M inhabitants a mainly young population, Nigeria should have all the cards to blaze on the trail of South Africa as the emerging giant of the South. The Gulf of Guinea is becoming the new hub for piracy attacks and three states in the Muslim North are now under state of emergency. The government has launched an all out war on Boko Haram while Shell, the major producer of the country, records unprecedented levels of thefts, vandalism and disruption on its distribution network. The country has reached a tipping point.
Between 1990 and 2006 the country’s proven oil reserves grew 117% from 17.1 billion to 37.2 billion barrels of crude oil and to 180 trillion cubic feet (tcf) of proven natural gas reserves. Accordingly, Nigeria boasts by far the largest proven reserves in sub-Saharan Africa and ranks number 10 (2.3% of world oil reserves) and 9 (2.5% of world gas reserves) respectively in international comparison. The latter figure is all the more remarkable given the fact that so far no independent exploration dedicated to gas has been conducted in Nigeria.
"Nigeria is perhaps the next South Africa, with immense commodity reserves and a young population the country could play all the right cards to build a successful future," says Melvin Manchau, President of Frontier Markets Capital. "The mix of good governance, stable regulation and security improvement will keep on attracting major investors from the region and globally. At Frontier Markets Capital we believe opportunities in the country are going to multiply once the Petroleum Bill will be signed and that we will see more companies interested in local acquisitions or applying for potential new licensing rounds.”
The Oil & Gas in Nigeria: report provides detailed and unique insights information on the key players in the country from the major international oil companies to the indigenous oil producers. The report provides a comprehensive overview of production, reserves, reserve changes, regions of production, licensing rounds, current and future regulation, as well as risks and opportunities for oil & gas operators.
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Media Contact: Melvin Manchau
Frontier Markets Capital
Contact Phone 646-326-3346