Nigeria to Request Higher Production Quota from OPEC

The Government of Nigeria says it will soon need to request a higher production quota from OPEC. The Director of the Department of Petroleum Resources, Mac Ofurhie, said that as production begins from the country's deepwater fields, the current production ceiling of 2.094 million barrels per day would need to be raised.

Nigeria's oil reserves currently stand at 32 billion barrels, with a daily production capacity of about 2.6 million barrels per day. The government has set a target reserve level of 40 billion barrels and production capacity of 3 million barrels per day by 2010.

Production is expected to commence from the following deepwater fields: Forcados, Yorkri and Bonga operated by Shell; Amenam/Kpono operated by Total SA , and the Erha field, operated by ExxonMobil.