Nigeria, Africa's largest producer of crude oil, is set to stage its 9th oil + gas conference.

Venue of the conference:

International conference centre, Abuja.

Little tips about Nigeria:

Nigeria is the largest oil producer in Africa and the eleventh largest in the world with an average of 2.6 million barrels per day (bb/l) (2006E). Nigeria's economy is heavily dependent on the oil sector, which account for nearly 80% of government revenues and helps the development of Nigeria's infrastructures and other industries.

The government has also been working on a number of economic reforms including the privatization of state-owned entities to continue to encourage private investment and reinvest in the country and it its people.
Nigeria Oil & Gas

Oil

Proven Oil reserves of 35.2 billion barrels and plans to expand to 40 billion barrels by 2010.
Joint ventures account for 95% of Nigeria's crude oil production.
NNPC estimates that $7 billion per year will be necessary to fund exploration and development in hopes of reaching its production targets.

Gas

Natural gas reserves of 185 trillion cubic feet (01/06).
Plans to raise earnings from natural gas exports to 50 percent of oil revenues by 2010.
.Nigerian gas flaring accounts for 20% of the world total which could be ended by 2008 by collecting associated natural gas and processing it into LNG.
.NNPC estimates that $15 billion in private sector investments is necessary to meet its natural gas development goals by 2010.
The $7 billion Nigeria-Algeria (NIGAL) project is planned to be finished by 2009. 4 000 km pipeline from Nigeria to Algeria's export terminals on the Mediterranean.

Check http://www.cwcnog.com for further details.

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