Nigeria briefing – Increasing independent presence
Nigeria is Africa’s major oil producing country, with 2013 volumes of 2.3mmb/d. By far the largest producer in Africa and with the second largest reserves, Nigeria has the potential to grow much further if exploration and development can be encouraged. Civil unrest and thefts have hit investment in the country over the last decade and despite incidents declining, the country still has problems on these fronts, key reasons given for the divestment programmes announced by many of the majors.
In this report, we hope to introduce the Nigeria petroleum sector to investors; we discuss the geology and politics and provide brief summaries of the Nigerian sector, from Afren down to micro-caps.
Nigeria represents an ever growing investment opportunity in our view. With this in mind, and in conjunction with Instinctif Partners, we look forward to welcoming Century Group, Sea Trucks Group, Seven Energy, Seplat and Control Risks Group to a Nigeria-focused investor day on Tuesday 8 July at our London office.
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