oil and gas

Investing in the Oil and Gas Industry

The Nigerian Oil and Gas reserves have grown tremendously since the discovery of hydrocarbon in 1956 in Oloibiri, Bayelsa state. As an investor, you can consider investing in profitable service like Gas treatment, Crude Oil and Gas conversion into refined and petrochemical Products and finer chemicals, with the new cargo airport in Bayelsa state, there will definitely be ease of transportation and Marketing of these products.

The people of Bayelsa invites investments in the downstream like Refining, Petrochemicals and Gas Utilization. To reduce the investors’ risk, speculative seismic data acquisition is carried out in the deep offshore using the services of reputable data acquisition companies. In the inland area, there is direct involvement in exploration activities.

Nigeria’s production cost per barrels is one of the lowest worldwide. Huge reservoirs of hydrocarbon are in Bayelsa State. Government has provided generous fiscal terms both for oil production and gas utilization. The economic environ ensure easy repatriation of profit by investors. Productions from new ventures are guaranteed by Governments deliberate policies. Opportunities also exist for investors to build gas plants and utilize available gas for production of LPG cooking gas and industrial gases, which are in high demand.

In the urban centers, LPG is the most sought source of cooking energy. In Yenagoa, the state capital, there is no LPG plant. Retailers of cooking gas get their stock from Port Harcourt, the capital of neighbouring Rivers State. “Petroleum production in the Niger Delta offers potential for investment in the petrochemical industry to produce chemicals and allied products for industrial use, for example plastics and fertilizer industries.

The oil industry is vast, and technically so. Bayelsa State offers opportunities for technical services, ranging from seismic and other geotechnical, drilling, pipeline, dredging, water transport, diving and underwater services to environmental response management services etc.”

DFPO Bayelsa State- R. Dressman © 2020. All Rights Reserved