In Nigeria, over 85% of oil and gas exploration and production is carried out under a joint venture between the Federal Government of Nigeria and Foreign Multi-national Corporations under the umbrella of the Nigerian National Petroleum Commission (NNPC).
Others are being explored by independent domestic oil and gas companies usually in marginal areas. Below are oil and gas companies operating in Nigeria, including foreign oil companies.
List Of Oil and Gas Companies in Nigeria
SHELL PETROLEUM DEVELOPMENT COMPANY OF NIGERIA LIMITED (SPDC)
Shell Nigeria is the largest oil and gas companies operating in Nigeria. These venture is made up of Shell (30%), NNPC (55%), TotalFinaElf (10%) and Agip (5%). Shell has over 100 oil fields, operates 2 coastal oil export terminals (Bonny and Forcados terminals – storage capacity of 13 million barrels) as well as having a network of more than 6,000 kilometers of pipelines passing through 87 flow stations.
2. MOBIL PRODUCING NIGERIA UNLIMITED (MPNU)
This is ExxonMobil subsidiary in Nigeria. It is the 2nd largest oil and gas company in Nigeria producing nothing less than 900,000 bbl/d. Mobil Producing Nigeria Unlimited (MPNU) is a joint venture operated by ExxonMobil between the Nigerian Federal Government and ExxonMobil where the Federal Government takes 60% of the revenue while ExxonMobil takes the remaining 40% in it shallow water offshore operations.
3. CHEVRON NIGERIA LIMITED (CNL)
Chevron Nigeria Limited is a joint venture between NNPC (60%) and Chevron (40%) for the onshore and offshore productions in the Niger Delta Region of Nigeria. This is the 3rd largest oil and gas company in Nigeria after the Shell and ExxonMobil affiliated oil companies. One of the numerous oil fields they operate is the Agbami field which is one of the largest deepwater discoveries.
Oil and Gas Companies in Nigeria
4. NIGERIAN AGIP OIL COMPANY LIMITED (NAOC)
Agip is one of the largest oil and gas companies in Nigeria. This oil and gas company operates in Nigeria under the venture known as the Nigerian Agip Oil Company Limited (NAOC). This is a joint venture operated by Agip which features NNPC having 60% ownership, Agip having 20% and ConocoPhillips having the remaining 20% ownership.
5. TOTAL PETROLEUM NIGERIA LIMITED (TPNL)
Total oil and gas company had been exploring and producing oil in the last 50 years under a joint venture with the NNPC owing 50% of the venture while Total owns the remaining 40% known as Total Petroleum Nigeria Limited (TPNL). This oil and gas company in Nigeria begin operating in 1962 and have a staff strength of around 1,700. It also has about 500 servicing stations scattered within Nigeria.
6. TEXACO OVERSEA PETROLEUM COMPANY OF NIGERIA LIMITED
Texaco had been merged with Chevron so this oil and gas company in Nigeria is a joint venture between NNPC (60%), Texaco (20%) and Chevron (20%). This NNPC Texaco-Chevron joint venture remains one of the big oil and gas company in Nigeria with the Pennington Terminal as it export terminal. This venture produces about 60,000 barrels of oil daily.