Shell’s Production In Nigeria Down By 28%

Shell Petroleum Development Company of
Nigeria has seen its total oil and gas production
plunge by 28.2 per cent year-on-year, the
company disclosed on Thursday.
Royal Dutch Shell Plc, the parent company of
the SPDC, in its unaudited financial statement
and operating information for the second quarter
of 2015, put its total production in Nigeria at
163,000 barrels of oil equivalent per day for the
period, down from 227,000 boepd in the same
period last year.
The global oil giant highlighted security impacts
in Nigeria as one of the factors responsible for
the decline in its production.
The SPDC had in the first quarter of this year
recorded total production of 177,000 boepd,
down from 209,000 boepd in the fourth quarter
of 2014.
Its liquids production available for sale dropped
by 40 per cent to 63,000 barrels per day in the
second quarter of 2015, compared to 105,000
bpd in the same period last year. It stood at
90,000 bpd in the first quarter of 2015, down
from 93,000 bpd in the fourth quarter of last
year.
The SPDC also saw its natural gas production
available for sale fall to 580 million standard
cubic feet per day, 18.2 per cent lower than the
709 million scfpd recorded in the second
quarter of 2014.
Shell said its global oil and gas production for
the second quarter of this year was 2.731
million boepd, 11 per cent lower than the figure
for the second quarter 2014. Natural gas
converted to oil equivalent at 5.8 million scfpd
equal 1,000 boepd.
“Excluding the impact of divestments,
curtailment and underground storage re-
injection at NAM in the Netherlands, PSC price
effects, and security impacts in Nigeria,
second quarter 2015 production was three
per cent lower than for the same period last
year,” it stated.