Kachikwu calls on Nigerian operators to acquire acreage

摘要

NIGERIAN Petroleum Minister Ibe Kachikwu has urged indigenous operators to prepare to take over major oil and gas operations and seek out untrammelled acreage because the opportunities presented by divestment may recede in time, writes Barry Morgan. Speaking at an industry gathering in the Bayelsa State capital Yenagoa, Kachikwu said: "Nigeria produces 1.9 million barrels per day of but should pump 4 million bpd, so something is fundamentally wrong with what we are doing." He added: "Oil is fast becoming a degenerating asset, with alternative sources of energy taking over and attracting new investments."