Independent and marginal oil fields’
operators as at the end of the third quarter, Q3, accounted for about
5.72 per cent of total crude oil and condensates production, according
to the Nigerian National Petroleum Corporation, NNPC financial
statement.
The NNPC, in its Monthly Financial and Operations Report for October
2015, said the Independents/Marginal Fields operators produced 32.825
million barrels of crude oil and condensates in the nine-month period,
compared to total production of 574.325 million barrels between January
and September 2015.
Using an average oil price
of $53.78 per barrel, as stipulated in the NNPC report, the 32.825
million barrels of crude oil and condensates produced by the
Independents/Marginal Fields operators translates to $1.765 billion, an
equivalent of N353.07 billion.
The report gave the production breakdown as follows:
