Techno-Economic Assessment of Marginal Oil and Gas Fields Development in Nigeria.

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dc.contributor.authorYusuf, Opeyemi Akinwale
dc.date.accessioned2020-01-06T12:32:10Z
dc.date.available2020-01-06T12:32:10Z
dc.date.issued2015
dc.descriptionxvii,290 Pagesen_US
dc.description.abstractThis study investigated the current status of technology capabilities and innovation activities in the indigenous marginal oil and gas fields in Nigeria, assessed the level of interaction between the marginal field operators and other stakeholders, examined the overall fiscal structure and uncertainties in oil and gas industry, and developed a techno-economic policy framework to enhance accelerated development of marginal oil and gas fields in Nigeria. The study was conducted in 5 geopolitical Zones, namely: South-South, South-West, South-East, North-Central and North-West. North-East Zone was exempted as a result of the insurgency going on in that area at the period of this study. Data were collected from both primary and secondary sources. A multi-stage sampling technique was used to select a total of 302 respondents for the study. This included major stakeholders in the petroleum innovation system, namely: Engineers and Scientists in indigenous oil companies; University Academia; Financial institutions and relevant Government Agencies. Primary data were collected through the use of questionnaire, interview schedule and personal observations. Data obtained were analysed using descriptive and appropriate inferential statistics. . The result showed that the extent of introducing or developing technology innovation/capability in indigenous oil firms was at the medium level when ranked from “very low” to “high” level, though these technologies were mainly from abroad. University laboratory facilities were ranked low when compared to the state-of-the-art required, and level of R&D funding was inadequate. Ordered logit regression was used to analyse the factors influencing the extent of technology capabilities in the Nigeria’s indigenous oil firms. The result shows that the extent of the firm’s R&D captured by In-house R&D (β= 0.999, p ≤ 0.09) and R&D Fund Allocation (β= 1.117, p ≤ 0.001) was significant in influencing technology capabilities of the indigenous firms at 10% level of significance. Also, Working experience of Staff (β= 1.234, p ≤ 0.012), Qualification of Staff (β= 1.024, p ≤ 0.001) and Size of Technical Staff (β= 1.068, p ≤ 0.038) which captured Human and Knowledge Capital of firm were significant. Advanced Machinery Acquisition (β= 1.591, p ≤ 0.083), Firm’s size (β= 0.528, p ≤ 0.006), Firm’s age (β= 1.812, p ≤ 0.023) and Training (β= 1.912, p ≤ 0.024) were all significant in influencing technology capabilities of indigenous oil firms. The level of interaction with indigenous supplier of field equipment and financial institution was found at medium level while interaction with University and Government agency was found at low level. Financial modelling showed that the marginal oil field is profitable with post-tax NPV of $29.32 million. Petroleum Profit Tax (PPT), Royalty and Oil Price have much impact on the viability of the marginal field respectively. The marginal oil field became unprofitable as PPT increased by 20% and 40%, as Royalty increased by 40% and as Crude oil price fell to $36 per barrel. In conclusion, the study assessed the techno-economic factors influencing marginal oil and gas field development by the indigenous oil firms in Nigeria and suggested a framework to improve indigenous oil firms’ performance.en_US
dc.identifier.citationYusuf.O.A(2015).Techno-Economic Assessment of Marginal Oil and Gas Fields Development in Nigeria.Obafemi Awolowo University.en_US
dc.identifier.urihttps://ir.oauife.edu.ng/handle/123456789/5020
dc.language.isoenen_US
dc.publisherObafemi Awolowo Universityen_US
dc.subjectTechno Economicen_US
dc.subjectGasen_US
dc.subjectNigeriaen_US
dc.subjectPetrolium Profit Taxen_US
dc.subjectCrude Oilen_US
dc.subjectGovernmenten_US
dc.titleTechno-Economic Assessment of Marginal Oil and Gas Fields Development in Nigeria.en_US
dc.typeThesisen_US
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