Overview of the Nigeria Oil and Gas Industry

Introduction

The Overview of the Nigerian Oil and Gas Industry course is designed to provide participants with
a comprehensive understanding of the oil and gas industry in Nigeria, one of the leading oil-
producing countries in Africa. Nigeria is rich in petroleum resources and has been prospecting for
petroleum since the 1950s. The oil and gas industry is one of the largest and most critical sectors
of the nation’s economy, with operations largely driven by a mix of international and national oil
and gas companies.
The industry is governed by the Petroleum Industry Act (PIA), which was signed into law by late
President Muhammadu Buhari in 2021. It provides for the creation of two regulated bodies from
the defunct Department of Petroleum Resources (DPR); the Nigerian Upstream Petroleum
Regulatory Commission (NUPRC), otherwise known as the “Commission”, and the Nigerian
Midstream Petroleum Regulatory Authority (NMPRA), and the Nigerian Downstream
Petroleum Regulatory Authority (NMDPRA), otherwise known as the “Authority”. The
enactment of the PIA also heralded the birth of a new corporate Limited Liability Company entity;
the Nigerian National Petroleum Corporation Limited (NNPCL), which from the defunct state-
owed Nigerian National Petroleum Corporation (NNPC).
The “Commission" is responsible for the regulation and supervision of upstream petroleum
operations. It is charged with the function of ensuring that petroleum exploration and production
activities in Nigeria are carried out in accordance with best practices. The commission also has the
mandate to promote investment in the Nigerian petroleum industry and to protect the environment
from the potential negative impacts of petroleum exploration and production activities.
The “Authority” on the other hand oversees the midstream and downstream sectors of the country's
petroleum industry. It encompasses a merger of three defunct regulatory agencies: Petroleum
Products Pricing Regulatory Agency (PPPRA), Petroleum Equalization Fund {Management}
Board (PEFMB), the Midstream and Downstream Divisions of the Department of Petroleum
Resources (DPR). The midstream sector involves pipeline transportation, marine transportation,
and storage of crude oil and petroleum products, while the downstream sector includes refining,
marketing, and distribution of petroleum products in Nigeria.
The NNPCL as a commercial manages the joint venture and production sharing contracts on behalf
of the Federal Government and a number of International Oil Companies (IOCs) and National Oil
Companies (NOCs). Through collaboration with these companies, the Nigerian government
generates revenue from oil and gas operations

Target Audience

This course is suitable for:
 Students studying petroleum engineering, geology, energy economics, or related
disciplines.
 Professionals working in the Nigerian oil and gas industry who seek a broader
understanding of operations across different sectors.
 Government officials, policymakers, and regulators involved in overseeing the oil and gas
sector in Nigeria.
 Investors, consultants, and stakeholders interested in exploring business opportunities in the
Nigerian oil and gas industry

Learning Objectives

After the course, participants will be able to:
 Understand the historical development and significance of the oil and gas industry in
Nigeria.
 Gain insight into the geology and hydrocarbon potential of Nigeria's sedimentary basins.
 Learn about the regulatory framework and institutional structures governing the oil and gas
sector in Nigeria.
 Explore the exploration and production activities, including major producing fields and
offshore operations.
 Understand the role of refining and downstream activities in the Nigerian oil and gas value
chain.
 Learn about the challenges and opportunities facing the Nigerian oil and gas industry,
including security concerns, environmental issues, and economic diversification efforts.
 Gain awareness of emerging trends and future prospects for the Nigerian oil and gas sector

Organizational Benefits

✓ Stronger industry and technical literacy across functions

✓ Improved cross-functional communication and decision-making

✓ Better understanding of operational, regulatory and commercial considerations

✓ More informed participation in industry and asset-related discussions

Course Content

Module 1: Chronological Order of Events
Module 2: The Nigerian National Petroleum Corporation Limited (NNPCL)
Module 3: The Regulatory agencies
Module 4: The Nigerian oil and gas sectors
Module 5: Petroleum Operating Licenses
Module 6: Petroleum Fiscal Systems (PFS)
Module 7: Current industry issues
Concluding remarks, action planning and wrap-up

Duration

This is a two (2) days course

Delivery

Onsite | Online | Hybrid