Good day everyone, hope the week is taking a superb run towards the weekend (which we all care about). Well today we going to look at some marginal fields operated on in Nigeria and give some details into their activities and stakes.
Marginal fields are oil and gas reserves usually too small for production to be economically viable for large oil companies. They are usually awarded to indigenous companies to explore considering the size of the reserves.Marginal fields contribute about 3% of the countries current production and have had a rough development road mostly due to hard financing and economies of scale as regards project value and extended life. As towards the end of last year marginal fields have averaged at 55,000 bpd and efforts are being made to make this figure higher. A bigger challenge lies in the inability on infrastructure deficits at or around the fields, lack of industry experience, the high cost of money and low depth of money supply in Nigeria, Poor oil metering tools, insecurity and also operational challenges has inhibited the prospects of marginal fields.
Lets look at some of these marginal fields below
