Nigeria loses about N8.615 billion ($53.846 million) in one month, as oil firms in the country flared about 53.846 billion standard cubic feet of gas in December 2013.
Also, the country’s total natural gas production appreciated by 44.29 per cent from 178.27 billion Standard Cubic Feet (BSCF) of gas in November 2013 to 257.22 BSCFin December.
Using the local gas price of $1 per 1000 SCF, this translates to an additional earning of about $78.95 million (N12.632 billion) to the country.
Specifically, December’s natural gas production of 257.22 BSCF translates to about $257.22 million (N41.155 billion), while November’s production of 178.27 BSCFtranslates to about $178.27 million (N28.523 billion).
In addition, data obtained from the Nigerian National Petroleum Corporation’s, NNPC, Monthly Petroleum Information for December 2013, revealed that Natural Gas Liquid (NGL) inventory produced for the month stood at 84,724 metric tonnes, MT out of which Mobil had about 43,210 MT, representing 51 per cent and NNPC 49 per cent, about 41,514 MT.It further stated that a total of 122,514MT was lifted for the month.
The report also stated that 39 oil companies produced 257.22BSCF of gas and flared 53.846BSCF of gas, representing 20.93 per cent of the total gas produced in the period.
This translates to $53.846 million, about N8.615 billion lost by the country in one month to gas flaring.
Marginal fields’ operators and sole risks/independent operators were the worst offenders, as they flared 85.69 per cent of their combined gas production of 23.047BSCF.
Specifically, marginal fields’ operators produced 1.889BSCF of gas, utilised 914.363 million SCF of gas and flared 974.306 MSCF in the period under review, while Sole Risks/Independent operators produced 21.159BSCF of gas, utilised 2.383BSCF and flared 18.776 SCF.
Joint Venture companies, on the other hand, produced 178.979BSCF of gas, utilised 153.013BSCF and flared 25.966BSCF, representing 14.51 per cent of total gas production.
Production Sharing Contract companies followed in terms of gas production, with 55.19BSCF; they utilised 47.063BSCF and flared 8.13BSCF, representing 14.73 per cent of total gas produced.
The NNPC report added, however, that in the month of November 2013, total production of natural gas was 178.27BSCF, noting that this is lower than the October figure of 185.23 BSCF by 6.96BSCF.
It also stated that about 20.96 per cent of the total production was flared, while the rest was utilised.