Nigeria has unexplored 28 billion barrels of oil reserves located in the offshore area, Chief Operating Officer, Upstream, Nigerian National Petroleum Corporation (NNPC), Mr. Bello Rabiu, has said.

According to him, this underscores the need to focus and encourage investment in the country’s upstream sector of the oil and gas industry.

Some of the members who attended the Nigeria Oil & Gas Conference & Exhibition in Abuja lining up for a photo

Speaking during a panel session at the just concluded Nigeria Oil and Gas Conference and Exhibition in Abuja, he stressed the importance of unlocking the oil gas potentials of the country to enhance the economy and promote industrialization.

According to him, to unlock this potential by encouraging investments, there must be clear-cut legal and regulatory frameworks that will allow the investor and the government to understand what to expect, adding that the Federal Government is working to put these in place.

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