The Critical Success Factors for Marginal Oil Field Development in Nigeria

Oruwari Humphrey^1, and Adewale Dosunmu²

¹Institute of Innovation, Technology and Engineering Management, University of Port Harcourt, Nigeria

²Department of Petroleum and Gas Engineering, University of Port Harcourt, Nigeria

Cite this paper

Oruwari Humphrey and Adewale Dosunmu. The Critical Success Factors for Marginal Oil Field Development in Nigeria. Journal of Business and Management Sciences. 2017; 5(1):1-10. doi: 10.12691/JBMS-5-1-1

Abstract

The purpose of this research was to assess the critical success factors of marginal oil field development in Niger Delta region. There are considerable potential of marginal oil field in Niger Delta region. However, it is sad to know that the development of marginal oil fields is lagging or have not been fully successful, despite policy initiative by the Federal Government of Nigeria. Many of the marginal field operators are battling with the issues of funding, social political, environmental and technical issues. Using data collected through document analysis and survey questionnaires from oil and gas experts and other government agencies, the research identified the success factors for marginal oil field development to include collaboration, infrastructure sharing, Joint ventures and partnerships and implementation of corporate social responsibility by the indigenous fields operating in the region. Technical issues associated with marginal field development and policies issues are addressed. The paper concludes that a policy shift and support to the marginal field operators are needed to enhance the development of marginal oil field in Niger Delta region. It also concludes that a favorable investment climate, the development of support infrastructure like refineries and power, financial institutions, as well as collaboration and integration by the stakeholders is essential for the sustainable development of marginal oil field in Nigeria.

Keywords

marginal oil field, indigenous companies, collaboration, sustainable development, support infrastructure

Copyright

This work is licensed under a Creative Commons Attribution 4.0 International License. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/

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