THE Federal Government and the Organisation of Petroleum Exporting Countries, OPEC, have differed on Nigeria’s rig count, a major index for measuring oil and gas activities in the industry.
In its latest report the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, which regulates the nation’s upstream activities, puts the nation’s total count at 53, before specifying that 12 are currently active, while 25 and 16 are ‘standby and stacked’ respectively.
But in its April 2022 Monthly Oil Market Report, MOMR, OPEC, puts the country’s rig count at 10, which remains low, considering the rig deployment in other African countries.
According to an OPEC report, Algeria tops all oil and gas producing countries with 30 rigs while Congo comes last with only one.