By Onu Okorie
The Commission Chief Executive Officer CCE of Nigerian Upstream Regulatory Commission NUPRC Mr Gbenga Komolafe has said that the Nation’s oil, condensate, associated gas, and non-associated gas reserves as of January 1st, 2025 stands as following: Crude Oil and Condensate reserves stands at 31.44 Billion Barrels and 5.84 Billion Barrels respectively, amounting to a total of 37.28 Billion Barrels.
On the other hand the Associated Gas and Non-Associated Gas reserves stands at 101.03 Trillion Cubic Feet (TCF) and 109.51 TCF, respectively, resulting in total Gas reserves of 210.54 TCF.
He said that it’s the official National Petroleum Reserves Position as Reserves Life Index is 64 Years and 93 Years for Oil and Gas, respectively.
According to him “in view of the above, and in furtherance of Chapter 1, Part III, Section 7 (g), (i), (j), (k), (m), (q), (r), and other powers enabling me in this respect
I hereby declare the Total Oil and Condensate reserves of 37.28 Billion Barrels and Total Gas reserves of 210.54 Trillion Cubic Feet as the official National Petroleum Reserves Position as of 1st January, 2025”
