"The Nigerian Government has made several attempts to make gas utilization a separate component from oil. The delay of the PIB has slowed that down as there is no gas legislation that has clearly set out how to explore, issue licenses, produce and then monetize gas."
Dorman Long is fortunate to run a diversified business. Whilst the fabrication and galvanizing businesses have ground to a halt, the maintenance business endures so that at least a fair number of our staff are still kept busy and there is some continuing economic activity.
Oilserv is an indigenous service company operating in the energy space in Nigeria for approximately 25 years, providing services across the oil, gas and power sectors.
“If you look back at Aurelian’s first resource, it was 13 million ounces at Fruta del Norte. It was scaled back, but now the near-term opportunity is to do infill drilling and convert some of our indicated resource to reserve. Our probable reserve is only 67% of our indicated resource right now.”
“Although we received the final permit in December, we decided to wait until after the winter to commence production so as to hit the ground running. We have now started production when the gold price is more than US$500 higher from when we acquired and started building the mine two years ago. This has given us a great base to grow from.”
This pre-release, containing insights from executives across leading African upstream, downstream, financing, and service providers, spotlights developments in local capabilities, infrastructure, and new projects that are driving change in some of Africa's most interesting oil and gas producing countries.