It’s no doubt that oil and gas companies have helped boost the economy of Nigeria.
They have also been a source of income to many Nigerians. Because of the significant role they play in the economy of the country, the growth of the industry is inevitable.
Therefore, in this article we will educate you on the biggest Oil and gas companies in Nigeria. Just read on.
Also Read: Where is Crude Oil found in Nigeria?
Top 10 Biggest And Best Oil And Gas Companies in Nigeria Presently
- Shell Petroleum Company
Shell Petroleum Development Company also known as Shell Nigeria has been largest oil and gas company in Nigeria.
Here are the properties owned by Shell:
1. Over 100 oil fields
2. Also in charge of 2 coastal oil which are -Bonny and Forcados terminals having a storage capacity of 13 million barrels.
3. It also uses a network of more than 6,000 kilometres of pipelines which passes 87 flowstations.
4. Also own the Shell Nigeria Gas (SNG), Shell Nigeria Exploration and Production Company (SNEPCO) and Shell Nigeria Oil Products (SNOP).
5. And a major stakeholder in Nigeria Liquified Natural Gas (NLNG).
- Mobil Producing Nig. Limited
This is ExxonMobil subsidiary in Nigeria. It is one of the largest oil and gas company in Nigeria. This company produces more than 900,000 bbl/d.
Mobil Producing Nigeria Unlimited (MPNU) is actually a joint venture of the Nigerian Federal Government and ExxonMobil.
The Federal Government is said to own 60% of the revenue while ExxonMobil owns 40% of the revenue.
Also, Exxonmobil holds a 50% revenue from it deep water block further offshore.
In all these, Mobil have one petroleum exporting terminal which is called Qua Ibom Terminal in Akwa Ibom State.
The headquarters of Mobil Producing Nigeria Unlimited (MPNU) is located in Eket.
- Chevron Nigeria
Chevron Nigeria Limited is also a joint venture between NNPC and Chevron.
NNPC owns 60% of the revenue while Chevron takes 40%. With this, it appears as the third largest oil and gas company in Nigeria.
Properties of Chevron are:
1. Agbami field which is one of the largest deepwater discoveries.
2. Chevron Nigeria Limited produces over 224,000 barrels of crude oil.
3. Also, 246 million cubic feet of natural gas as well as
4. Six thousand barrels of liquefied petroleum gas daily.
5. Also owns the Escravos Terminal located in Delta State which has a storage capacity of 3.6 million barrels.
Agip is one of the largest oil and gas companies in Nigeria. Also a joint venture of NNPC, Agip and ConocoPhillips. With NNPC having a ownership of 60%, Agip 20%, and ConocoPhillips 20%.
However all this ownership the household name remains Nigerian Agip Oil Company Limited (NAOC).
It has a Brass Terminal suited in Port Harcourt which has a storage capacity of 3,558,000 barrels.
- Total Oil and Gas
Total oil and gas company has been in operation in Nigeria for the past 50 years. This as well is a joint venture with NNPC owning 50% of the venture. Total therefore owns the remaining 40%.
Properties of Total:
1. A staff strength of about 1,700.
2. It has about 500 servicing stations all over the country.
- Texaco Petroleum Company
Texaco petroleum company has been merged with Chevron hence it is a joint venture of NNPC 60% ownership, Texaco 20% ownership and Chevron 20% ownership.
Properties of Texaco:
1. Pennington Terminal as it’s export terminal. This venture produces about 60,000 barrels of oil every day.
The above are the six major oil and gas companies in Nigeria. I hope you enjoyed this article.
Also check out Top 10 Insurance Companies In Nigeria