The petroleum industry in Nigeria has always been a major source of income in the country; it is currently the source of 95% of Nigeria’s foreign exchange earnings. It is therefore obvious that oil and gas companies play a significant role in the Nigerian economy.
Today, Legit.ng will tell you about the top 10 petroleum companies in Nigeria and their websites.
Man discovered this flammable natural liquid and began to use it a long time ago. Experts have established that oil fields existed on the banks of the Euphrates as early as 4-6 thousand years before our era. Approximately 700 years ago, the famous traveler Marco Polo visited the territory of modern Azerbaijan, and in his notes described (as he called it) "earth oil", which "cannot be eaten, but it burns and heals camels well."
Oil and gas industry in Nigeria
Oil and gas companies in Nigeria contribute greatly to federal government revenues; it also provides more than 65% of budget funds for Nigeria. Nigeria is the biggest exporter of oil and gas in Africa. According to the USA Energy Information Administration, the oil reserves of Nigeria is somewhere between 17 and 22 billion barrels; some other sources claim this figure could actually be up to 35 billion.
Almost all of the country’s reserves are located in the delta of the Niger River. Nonetheless, coastal regions of the country also provide a significant amount of gas and oil. Nigeria currently has over 150 oil fields and over 1400 active wells.
On the question of the natural gas reserves, Nigeria can provide 5,300 square kilometers to the world; the biggest natural gas initiative in the country is provided by the Nigerian Liquefied Gas Company.
Oil and gas companies in Nigeria
Nigeria is the biggest producer of oil and gas in Africa, and a home for a lot of international oil companies. Interestingly, the top international companies in the petroleum industry of the world also work with Nigeria.
So which players in the Nigerian petroleum market are worthy of making the top list of Petroleum companies in Nigeria? Check them out below:
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Top ten oil and gas companies in Nigeria!
10. Addax Petroleum
Addax Petroleum has a long history with the Federal Government of Nigeria. The beginning of the relationship between Addax Petroleum and the Nigerian National Petroleum Corporation started in 1998. The company is a part of the Chinese Sinopec Group; their major production power is concentrated in the Middle East and Africa.
The company works with over 100 wells in Nigeria. Its net worth is estimated at more than 17 million pounds. The company’s website is www.addaxpetroleum.com.
9. Nexen Inc
Nexen Inc is one of the most prominent companies in the list of oil and gas companies in Nigeria. It is also one of the Chinese companies of today which are under CNOOC Limited. Their main asset in Africa are offshore projects in Nigeria, which started in 2012. They are also into deep water exploration in Nigeria.
Its net worth is estimated at more than $333 million. The company’s website is www.nexencnoocltd.com.
8. Hardy Oil and Gas Plc
This company has great interest in working with Nigeria and Nigerians. Their current financial interest of this oil giant is located in onshore assets in Atala and Oza. They currently explore these oil fields together with the Bayelsa Oil Company Limited and Millenium Oil and Gas Company.
The company holds 20% of interest in Oza and Atala. Its net worth is estimated at more than 67 million pounds. The company’s website is www.hardyoil.com.
It is a multinational oil and gas company which also has great interest in working with Nigeria; they have had working relations with Nigeria for over fifty years. It currently has a wide distribution network of over 500 oil stations. The company is also involved in power generation and chemical production in Nigeria.
Its net worth is estimated at more than 120 billion dollars. The company’s website is www.total.com.ng.
Petrobras is one of the best oil and gas companies in Brazil; a lot of Nigerians like this company and dream of joining its international team. Its main focus is on oil, gas and alternative energy sources.
Its net worth is estimated at more than $73 billion. The company’s website is www.petrobras.com.
5. Nigerian Agip Oil Company Limited
Agip is one of the largest oil and gas companies in Nigeria. It is a joint venture of several major players in the oil and gas industry – NNPC (60% ownership), Agip (20% ownership) and ConocoPhillips (20% ownership).
The company’s website is www.eni.com.
Shell is a globally known company and a top player in the oil industry! It has been working with Nigeria for over 60 years and continues to develop new ways of cooperating with the NNPC. A lot of Nigerians also dream of working with Shell.
Its net worth is estimated at more than 213 billion dollars. The company’s website is www.shell.com.ng.
This is the biggest Norwegian oil company in the world! It has been working with Nigeria since the early 1990s. It is responsible for the Agbani exploration project in Nigeria.
Its net worth is estimated at more than $155 billion. The company’s website is www.stateoil.com.
The headquarters of this oil company is stationed in the USA. The main fields of interest for the company are oil, gas and alternative energy sources.
Its net worth is estimated at more than $253 billion. The company’s website is www.chevron.com.
1. Exxon Mobil
Exxon Mobil is the top oil company in the world; its operations are related to various sources of oil, gas and alternative energy. Its net worth is estimated at more than $400 billion. The company’s website is www.exxonmobil.com.
If you visit the websites of all the oil and gas companies in Nigeria mentioned above, you will be able to get complete information about their operations in the country! Moreover, they also provide good job opportunities which you won`t like to miss!
READ ALSO: When was oil discovered in Nigeria?
Source: Legit Newspaper