FG’ll Meet 40bn Barrels Oil Reserves By 2020, Says NAPE

[Shola Sholaz]

The Nigerian Association of Petroleum Explorationists (NAPE) says the country has the capacity to meet the 40 billion barrels oil reserves as projected by the Federal Government.
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The President of the association, Mr George Osahon, said while briefing newsmen on the association's 31st Annual International Conference scheduled for between Nov. 10 and Nov. 14 in Lagos.
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Osahon, who is also the Director, Department of Petroleum Resources (DPR), said that Federal Government had targeted 40 billion barrels reserves and four million barrels per day production by the year 2020. According to him, the Nigerian oil and gas industry is currently experiencing declining reserves owing to reduced exploration, a situation that has caused much concern. Osahon said that successful exploration and development of new oil fields would require the use of novel integrated technologies.
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He said that the association would at its 31st Annual International Conference and Exhibition examine critically the Nigerian oil and gas industry.