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Local firms drive new growth phase in Nigeria's oil sector
Cape Times
|June 04, 2025
NIGERIA is witnessing a significant shift in its oil and gas landscape as local companies expand their roles, driving a new phase of potential sectoral growth and innovation.
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Leading the charge are companies which bought onshore and shallow water assets from oil majors planning billions of dollars of investments to develop abandoned fields.
Smaller producers are also pulling their weight, for example Nigeria's first locally developed and operated onshore crude terminal, Otakikpo, began loading operations on Monday.
Built by Green Energy Limited and located in the OML 11 block near Port Harcourt, it marks a milestone in local capacity.
Shell SHEL.L loaded the first crude cargo through the 360000 bpd capacity terminal on Monday, opening up potential drilling prospects for over 40 stranded fields in the region.
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