{"id":24819,"date":"2023-04-13T09:00:00","date_gmt":"2023-04-13T08:00:00","guid":{"rendered":"https:\/\/www.engineernewsnetwork.com\/blog\/?p=24819"},"modified":"2023-04-11T09:18:02","modified_gmt":"2023-04-11T08:18:02","slug":"fields-and-refineries-will-lead-upcoming-project-starts-in-nigeria-during-2023-2027","status":"publish","type":"post","link":"https:\/\/www.engineernewsnetwork.com\/blog\/fields-and-refineries-will-lead-upcoming-project-starts-in-nigeria-during-2023-2027\/","title":{"rendered":"Fields and refineries will lead upcoming project starts in Nigeria during 2023\u20132027"},"content":{"rendered":"\n

In the Nigerian oil and gas sector, fields and refineries are set to lead upcoming project starts, accounting for about 57% of the total project starts between 2023 and 2027, says GlobalData, the data and analytics company.<\/p>\n\n\n\n

GlobalData’s report, Africa Oil and Gas Projects Analytics and Forecast by Project Type, Sector, Countries, Development Stage, Capacity and Cost, 2023-2027<\/a><\/em><\/strong>, reveals that 34 fields and 32 refinery projects are expected to start operations in Nigeria during the period 2023-2027. The midstream sector is also expected to witness substantial project starts, with the oil storage and gas processing segments leading with 12 and 11 projects, respectively.<\/p>\n\n\n\n

Himani Pant Pandey, Oil & Gas Analyst at GlobalData, comments: “Being one of the leading exporters of crude oil in the world, Nigeria continues to focus on the development of fields to sustain future oil and gas production.”<\/p>\n\n\n

\n
\"\"<\/a><\/figure>\n<\/div>\n\n\n

Among the upcoming field projects in Nigeria, OML 13 is a key field project during the 2023-2027 period, with a total production capacity of 184,333 barrels of oil equivalent per day (boed) and a project cost of $3.2 billion. Among refineries, the Lagos I refinery is a key project with a cost of $16.1 billion and a capacity of 650 million barrels per day (mbd).<\/p>\n\n\n\n

Pandey concludes: “There is also a focus on the development of refineries and oil storage projects in Nigeria in order to reduce imports of refined products and boost exports.”<\/p>\n","protected":false},"excerpt":{"rendered":"

In the Nigerian oil and gas sector, fields and refineries are set to lead upcoming project starts, accounting for about 57% of the total project starts between 2023 and 2027, says GlobalData, the data and analytics company. 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