Nigeria, Argentina to Partner in Natural Gas Exploration and Production
CCE Engr Gbenga Komolafe
Nigeria and Argentina are set to collaborate in the exploration and production of natural gas, as announced by officials from both countries, it is reported. Gbenga Komolafe, the CEO of the Nigerian Upstream Petroleum Regulatory Commission, shared the partnership details following a meeting with Alejandro Herrero, the Argentine ambassador to Nigeria. Herrero expressed Argentina’s keen interest in exploring opportunities for collaboration and investment in Nigeria’s gas fields.
The collaboration aligns with Nigeria’s petroleum fiscal system, which employs production-sharing contracts as a new model for agreements in oil and gas exploration and production. The Nigerian Upstream Petroleum Regulatory Commission plans to initiate the auction of uncommitted gas fields in the coming weeks.
Nigeria, recognized as a significant global natural gas producer, boasts substantial gas reserves estimated at 180,490 million cubic feet, according to the Nigerian National Petroleum Company. The partnership signals a strategic move to enhance the exploration and production capabilities of natural gas, leveraging the strengths of both nations in the energy sector.
