Current Realities in the Upstream Sector of the Nigerian Oil & Gas Industry

Current Realities in Nigeria; Operators Focus • Focus on stabilizing production Identify 'low hanging fruits' that require low cost workover/remedial operations. ✓ Optimize production. • CAPEX reduction will come from reduced spending on exploration, facility construction etc. • Embrace Gas development. Identify distressed or underperforming assets. NIGERIAN ✓ Isolate asset which may be falling short due to investment assumptions that no longer hold true. ✓ Focus on high performing asset to maximize production. ASSOCIATION OF $ 3 S PETROLEUMONIST DHL Degeconek

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