Nigeria Eyes 1.7 Billion Barrels in New Oil Supply

Nigeria could tap 1.7 billion barrels in new oil supply as well as 7.7 trillion cu ft of natural gas after the approval of 43 field development plans this year. The figures were reported by the chief executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, as quoted by Nigerian media. The executive added that the field plans involved the commitment of some $20 billion in investments. Komolafe also reported that three final investment decisions made this year—for Bonga North, for Ubeta Gas, and for HI Gas Project—would…