Offshore Network has published the report ‘Nigeria Well Intervention Forecast', which has relevant data critical to well intervention stakeholders in West Africa
Using data from Nigeria, Africa's largest oil-producing country, department of Petroleum Resources (DPR) forecast has huge implications for well intervention in the region.
An uplift in activity is expected as the Nigerian government sees well intervention as the most cost-effective solution to boost output. In the report, the DPR identify the strategic importance of enabling methods to increase extraction rates in established fields.
Nigeria is an example to less mature markets in West Africa for the need to constantly re-examine well intervention methodologies and keep such projects front of mind to maximise profitability.
“Well intervention is a necessary option to optimise resource recovery and accelerate revenue generation to fund national plans and stakeholder sustainable value proposition,” Amadasu Enorense, head of the Upstream Monitoring and Regulations Division – DPR.
Speaking at Offshore Network's 2019 OWI West Africa conference in Accra, Amadasu Enorense, stated the emphasis of the DPR's mandate had changed from conservation of hydrocarbon resources, towards maximising exploitation of those resources. This is in part due to the abundant supply in global markets and the potential for oil demand to peak in the next 10-20 years.
The report delves into best practice when serving the Nigerian market and what regulators regard as the important issues' workovers can solve to optimise recovery.
The developments highlighted are a positive sign for the future of well intervention in West Africa considering the regulator of Nigeria, Africa's largest oil producer, plan to utilise well intervention to hit their 2023 production target.
Get the full report here to learn more about this and much more besides, that will help you plan for future well work in Nigeria.