Lagos — Twelve oil companies have been named by the Department of Petroleum Resources, DPR, in its list of low oil production companies.
Th list is contained in the department’s most recent Nigerian Oil and Gas Industry Annual Report, 2017.
Named in the list are Britannia-U, Consolidated Oil Limited, Yinka Folawiyo Petroleum, Platform Petroleum, Pillar Oil, Universal Energy and Network Oil & Gas.
Also on the list are Atlas Energy, Dubri Oil, Express Petroleum, Frontier Oil, and Excel Exploration & Production Company Ltd.
The DPR said the companies were part of sole risk oil firms located offshore Nigeria doing badly in terms of crude oil production.
According to DPR, Atlas energy produces a daily average of 399 barrels of oil per day, BOPD; Dubri, 348BOPD, Frontier, 332BOPD, Excel, 227BOPD and Express 60BOPD.
Britannia-U and Consolidated Oil Limited were listed as producing an average of 1,195BOPD and 1,227BOPD respectively, while Yinka Folawiyo produces an average 2,541BOPD daily; Platform Petroleum, 2,744 BOPD; Pillar Oil 2,523 BOPD, Universal Energy 2,620BOPD, and Network Oil & Gas, 2,208BOPD.
Nigeria has a total of 44 oil producing companies, burning out an estimated average daily production of 2.07 million barrels per day as at 2017. There was a 5.6 percent increase over the average production rate for 2016, according to the DPR.
The DPR is an arm of the Federal Ministry of Petroleum Resources in charge of supervising activities in the Nigerian oil and gas sector.
The agency enforces standards and also oversees safety and other regulations in the exportation of crude oil and importation of products into the country.
Specifically, the DPR has responsibility of ensuring compliance to petroleum laws, regulations and guidelines in the oil and gas industry, and monitoring the petroleum industry operations to ensure they are in line with national goals and aspirations.