Abuja, April 16, 2024 – Nigeria’s crude oil reserves has risen from 36.96 billion barrels on Jan, 1, 2023 to 37.50 billion barrels on Jan.1, 2024.
The country’s natural gas reserves also rose from 208.83 trillion Cubic Feet (TCF) on Jan. 1, 2023 to 209.26TCF on Jan. 1, 2024.
Gbenga Komolafe, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), disclosed this on Monday.
He attributed the increasing reserves to production from some of the marginal fields and several initiatives of the commission.
“Some of the brownfields and marginal fields have started producing and contributing to our national oil and gas reserves.” (GBN)
