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History of Oil and Gas in Nigeria

The early history (1908 – 1960) – The historical backdrop of oil investigation in Nigeria traces all the way back to 1908 when Nigerian Bitumen Corporation directed exploratory work in the nation; notwithstanding, the firm left the country at the beginning of World War I. From there on, permit was given to D’Arcy Exploration Company and Whitehall Petroleum.

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Notwithstanding, the two organizations didn’t discover oil of business esteem and returned their licenses. In 1923 new permit covering 357,000 sq. miles was given to another firm called Shell D’arcy Petroleum Development Company of Nigeria. The new firm was a consortium of Shell and British Petroleum (then, at that point known as Anglo-Iranian). The organization started exploratory work in 1937. The consortium was allowed permit to investigate oil all around the region of Nigeria however in 1951 and afterward somewhere in the range of 1955 and 1957, the land assigned to the organization in the first permit was diminished. Penetrating exercises began in 1951 and the principal test all around was bored in Owerri region. Shell-BP chasing after industrially accessible oil discovered oil in Oloibiri, Nigeria in 1956 and came on stream creating 5,100 bpd. Creation of raw petroleum started in 1957 and in 1960, a sum of 847,000 tons of unrefined petroleum was traded.

Significant Dates in Early History of Nigerian Oil and Gas Industry

1908: Nigerian Bitumen Co. and British Colonial Petroleum initiated activities around Okitipupa.

1938: Shell D’ Arcy conceded Exploration permit to prospect for oil all through Nigeria.

1955: Mobil Oil Corporation began tasks in Nigeria.

1956: First effective all around bored at Oloibiri by Shell D’Arcy

1956: Changed name to Shell-BP Petroleum Development Company of Nigeria Limited.

1958: First shipment of oil from Nigeria.

1960: Other non-British firms were conceded permit to investigate for oil like Tenneco

The Mid History (1961 – 1990) – at this period, Nigeria was simply understanding its most recent grounds as an oil exporter and fostering its fare market. It was during this time that business double-dealing of the nation’s stores started with the Nigerian Government presenting its first guidelines overseeing the tax collection from oil industry benefits in which the benefits were to be divided 50-50 among the public authority and the oil organizations. By the later piece of the 1960s, the Nigerian Government considered approaches to use the asset being taken advantage of by the western nations to foster the nation and with this idea planned its first understanding for taking value in one of the creating organizations, the Nigerian Agip Oil Company, together claimed by Agip of Italy and Phillips of the United States. The choice to take up a value stake basically the initial move toward the making of the NNPC-was not, nonetheless, practiced until April 1971. In 1970, the finish of the Biafran war matched with the ascent on the planet oil cost, and Nigeria had the option to procure moment wealth from its oil creation.

Significant Dates in Mid History of Nigerian Oil and Gas Industry

1961: Shell’s Bonny Terminal was authorized; Texaco Overseas began tasks in Nigeria.

1962: Elf began activities in Nigeria. (As Safrap), Nigeria Agip Oil Company began activities in Nigeria

1963: Elf found Obagi field and Ubata gas field, Gulf’s first creation

1965: Agip tracked down its first oil at Ebocha, Phillips Oil Company began activities in then Bendel State

1966: Elf began creation in Rivers State with 12,000 b/d

1967: Phillips penetrated its first well (Dry) at Osari – I, Phillips first oil revelation at Gilli-Gilli – I

1968: Mobil Producing Nigeria Limited) was framed, Gulf’s Terminal at Escravos was authorized

1970: Mobil began creation from 4 wells at Idoho Field, Agip began creation, Department of Petroleum Resources Inspectorate began.

1971: Shell’s Forcados Terminal Commissioned, Mobil’s terminal at Qua Iboe appointed

1973: First Participation Agreement; Federal Government obtains 35% offers in the Oil Companies, Ashland began PSC with then NNOC (NNPC), Pan Ocean Corporation bored its first disclosure well at Ogharefe – I

1974: Second Participation Agreement, Federal Government expands value to 55%, Elf officially changed its name from “Safrap”, Ashland’s first oil disclosure at Ossu – I

1975: First Oil lifting from Brass Terminal by Agip, DPR moved up to Ministry of Petroleum Resources

1976: MPE renamed Ministry of Petroleum Resources (MPR), Pan Ocean initiated creation through Shell-BP’s pipeline at a pace of 10,800 b/d

1977: Government set up Nigerian National Petroleum Corporation (NNPC) by Decree 33, (NNOC and MPR doused).

1979: Third Participation Agreement (all through NNPC) builds value to 60%, Fourth Participation Agreement; BP’s shareholding nationalized, leaving NNPC with 80% value and Shell 20% in the joint Venture, Changed name to Shell Petroleum Development Company of Nigeria (SPDC)

1984: Agreement uniting NNPC/Shel1 joint Venture.

1986: Signing of Memorandum of Understanding (MOU)

1988: Formation of 12 vital specialty units, covering the whole range of oil industry activities: Nigerian Petroleum Development Company (NPDC), Nigerian Gas Company (NGC), Products and Pipelines Marketing Company (PPMC), Integrated Data Services Limited (IDSL), National Engineering and Technical Company Limited (NETCO),Hydrocarbon Services Nigeria Limited (HYSON), Warri Refinery and Petrochemical Co. Restricted (WRPC), Kaduna Refinery and Petrochemical Co. Restricted (KRPC), Port Harcourt Refining Co. Restricted (PHRC), NNPC Retail, Duke Oil

1989: Fifth Participation Agreement; (NNPC=60%, Shell = 30%, Elf=5%, Agip=5%).

Ongoing History (1991 – date) –

1991: Signing of Memorandum of Understanding and joint Venture Operating Agreement (JOA)

1993: Production Sharing Contracts marked – SNEPCO, Sixth Participation Agreement; (NNPC=55%, Shell=30%, Elf= 10%, Agip=5%), the coming on-stream of Elf’s Odudu mix, seaward OML 100.

1995: SNEPCO begins penetrating first Exploration well, NLNG’s Final Investment Decision taken

1999: NLNG’s First shipment of Gas out of Bonny Terminal.

2000: NPDC/NAOC Service Contract marked

2001: Production of Okono seaward field.

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