The Nigerian National Petroleum Corporation (NNPC) has said that without the discovery of fresh hydrocarbons in some parts of the country, the current 37 billion barrels in reserves will dry up in 30 years, given a projection of 2.3 million barrels per day by 2023. The corporation which recently set a target of a three billion increase, which will take the reserves to 40 billion barrels, noted that it will continue to dig for more crude oil, noting that at 2019 production levels, the current deposits will likely dry up in an extended period of 40 years. Speaking during the NNPC/IDSL asset management and operational excellence webinar series tagged: ‘Developing Strategic Organisational Framework to Improve Asset Management Efficiency’, Group General Manager, National Petroleum Investment Services (NAPIMS), Mr. Bala Wunti, also stressed that the 10 per cent gas being flared can provide a lot of power […]