Nigerian Marginal Oilfield Development Program: PIA and Current Issues

Abstract

Despite the shift towards renewable energy, crude oil has continued to account for a large part of the global energy consumption, leading to the rapid depletion of crude oil volumes from mature fields. Hence, it is necessary to maximize the production of this essential commodity. Marginal fields are estimated to currently represent between 30% and 40% of world oil production and are gaining importance due to the natural decline in production from large mature fields. In general, most fields with low-abundant reserves, poor economic performance, high cost and technical difficulty in Google Scholar