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Nigeria would need about $7.6 billion to restore oil production to 2.1m/bpd by 2025 from the current 1.3m/bpd as of September.
This was disclosed by the Chairman AA Holdings, Dr. Austin Avuru, who said this would help in drilling about 426 wells with about 45 rigs on duty to rejuvenate oil production in the country, which can help achieve an output of 2.1million barrels per day by the year 2025.
Avuru emphasised the importance of this investment in bolstering the country’s economy and strengthening its position in the global oil market.
The AA Holdings boss stated this at the 41st Nigeria Association of Petroleum Explorationists (NAPE) yearly international Conference and Exhibitions (AICE) Pre-conference, yesterday, themed: ‘Unlocking Nigeria’s remaining energy potential to fuel…
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