NIGERIAN NATIONAL PETROLEUM CORPORATION

1 NIGERIAN NATIONAL PETROLEUM CORPORATION ANNUAL statistical BULLETIN JANUARY DECEMBER 1997 CORPORATE PLANNING AND DEVELOPMENT DIVISION (CPDD) TABLE OF CONTENTS S/N 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 43. Executive Summary General Review of Nigeria s PETROLEUM Industry Activities in 1999 1997 Seismic Activities: Exploration 1997 Seismic Activities: Processing and Re-processing 1997 Rig Operations by Company 1997 Drilling Summary by Company Crude oil, Gas and Water Production - Full year 1997 Summary of Crude Oil Production compiled from Company s Monthly Report Crude Oil Production by Company, Crude stream Monthly Analysis of Crude Oil Production by Stream Monthly Analysis of Crude Oil Production by Company Nigeria Crude Oil Exports Analysis of Crude Oil Production vs Exports Nigeria Crude Oil Exports by Destination NNPC Equity Crude Oil Exports & Revenue by Types Gas Export and Revenue Gas Production and Utilization by field Summary of Gas Production and Utilization by Company NIGERIAN Gas Company.

2 Gas Sales Joint Venture Gas Sales Statistics Total Crude Oil and Gas Revenue Flow NIGERIAN Crude Oil Realizable Prices Average Spot Prices of OPEC Reference Basket and Some Selected Crudes NIGERIAN Crude Oil Production and Exports (1961 1997) NIGERIAN Natural Gas Production and Disposal (1961 1997) World Crude Oil Production and Exports (1961 1997) Crude Oil Production in OPEC Member Countries (1961 1997) OPEC & Nigeria: % Contribution to World Crude Oil Production and Exports NIGERIAN Crude Oil Reserves and Production Ratio 1997 Refinery Crude Oil Balance Crude Oil Received Crude Oil Processed Finished Products Refinery Production Returns Refinery Fuel and Loss Statistics Domestic Consumption of PETROLEUM Products by States PETROLEUM Products Distribution by Marketing Company Bunker Sales Report PETROLEUM Product Exports PETROLEUM Products Imports Annual PETROLEUM Products Sales in Nigeria PETROLEUM Products Retail Price Trend Glossary of Terms Page 1 3 10 11 12 13 14 24 25 26 27 28 30 31 33 34 35 44 46 47 48 49 50 51 52 53 54 55 56 57 60 62 64 66 67 68 70 71 72 74 76 78 79 2 EXECUTIVE SUMMARY The operation Division of NAPIMS with the Joint

3 Venture Partners and oil producing companies operating under the Production Sharing Contract (PSC) acquired 750 kilometres of 2-D seismic data and 17,458 square kilometers of 3-D seismic lines. In all, 26 rigs were in operations both onshore and offshore terrains. A total of 155 wells were spudded involving twelve (12) exploratory, fourteen (14) appraisal and one hundred and one (101) development wells, while the remaining twenty-eight (28) were worked over. Total crude oil production, including condensates, stood at million barrels or an average of million barrels per day in 1997. Total revenue generated into Federation Account amounted to $ billion. Of this, PPT contribution stands at $ billion, Royalties about $ billion while equity oil sales accounted for about $ billion.

4 Crude oil suppliers to the three local refineries amounted to about million barrels while 78 million barrels were processed. Total PETROLEUM products produced by these refineries were put at about million metric tonnes ( million barrels). The difference between crude oil processed and product output can be explained as refinery fuel and loss which is about 12% 3 PETROLEUM Products Marketing Company (PPMC), a subsidiary of NNPC evacuated about million metric tonnes of PETROLEUM products from refineries and imported about million metric tonnes for local consumption. In all, about million metric tonnes of PETROLEUM products were available for domestic consumption.

5 Available oil statistics shows that total crude oil exports stood at million barrels averaging million barrels per day in 1997. Of this, the Federation (NNPC) Equity oil export stood at million barrels. Natural gas produced in association with oil amounted to 1,142 Billion standard cubic feet. Of this, Bscf ( ) was flared, while the remaining were re-injected, used as fuel, sold, or converted to NGL. Shell Development Producing Company (SPDC) sold Bscf of natural gas amounting to N772,224 million, while NGC sold a total of Bscf amounting to billion. However, it should be noted that 85% of NGC sales is to NEPA at subsidized rate. 4 GENERAL REVIEW OF NIGERIA S PETROLEUM INDUSTRY ACTIVITIES IN 1997 1.

6 Seismic Activities Geographical activities during the year were undertaken by four joint ventures companies and two other oil companies that are operating under production sharing contracts. Overall the companies acquired a total 17, square kilometers of 3-D seismic data while a total of 750 were covered under 2-D seismic survey. Nigeria Agip Oil Company (NAOC) shot a total of 2, square kilometers (3-D) seismic survey under production sharing contract and 400 square kilometers operating under the joint ventureship. The leading producing oil company, Shell PETROLEUM Development Company (SPDC) shot a total of 1,660 square kilometers of seismic activities. 2. Drilling Activities During the year under review a total number of 26 rigs were in operations both offshore and onshore (Land/Swamp) terrain s.

7 Thirteen (13) of the rigs were both for offshore drilling activities while twelve (12) were involved in onshore drilling projects. The remaining one ( 1 ) rig was used as hoist 5A total of 155 wells were spudded involving twelve (12) exploratory/completion, fourteen (14) appraisal, one hundred and one (101) development wells, while the remaining twenty-eight (28) wells were worked over. Joint Venture Oil Companies were involved in the four areas of drilling activities. In all, eight (8) exploratory, twelve (12) appraisal, one hundred and one (101) development and twenty-eight (28) worked-over wells were undertaken. The total wells spudded under this arrangement stood at one hundred and forty-nine (149) wells.

8 Only six wells were spudded by companies operating under production sharing contracts (PSC). 3. Crude Oil Production Crude oil production, including Condensate, for the year stood at 855,736,287 barrels or an average of 2,344,483 barrels per day. This figure shows an increase of 173,841,647 ( ) over that of 1996 which stood at ,600 barrels or an average of 1,863,100 barrels per day. Shell producing Development Company of Nigeria (SPDC) Produces 328,118,620 barrels (898,955 b/d) which is about of all the production. SPDC is followed by Mobil 230,889,049 barrels (632,573 b/d), chevron 152,906,246 barrels (418,921 b/d), NAOC 54,177,629 barrels (148,432b/d) in that order.

9 Other noticeable oil producers are Elf 5,857,103 barrels (118,907 b/d), Texaco 3,839,099 barrels (77,939 b/d), Pan-Oceanic 171,320 6barrels (3,478 b/d), NPDC 232,918 barrels (4,729 b/d) and Connoco 398,050 barrels (8,081 b/d). shell, Mobil and chevron produced about of the total oil and Condensate produced in 1997. Qua Iboe light crude stream topped the list of all crude oil streams with a total production of 199,478,837 barrels followed by Forcados Blend with 168,444,520 barrels and Bonny Light with 147,921,962 barrels in that order. Escravos Blend 136,547,437 barrels Brass Blend 62,658,559 Bonny Medium 39,544,154 Pennington Light 28,447,721 Odudu Blend 24,964,535 The total production of the least crude oil stream Ima, which was first produced in September 1997, stood at 1,999,460 barrels.

10 4. Domestic Refining During the period under review, three local refineries made up of WRPC, KRPC and PHRC received a total of 80,473,490 barrels, for processing. This includes Bonny Light 39,274,440 barrels, Escravos Light 36,381,250 barrels and Forcados Blend 2,334,750 7barrels. Arab Light, which is foreign crude oil stream accounted for 2,463,220 barrels. Refinery Crude Processed (bbl) Through Put (b/d) Port-Harcourt 37,797,360 103,554 Warri 28,923,570 79,242 Kaduna 11,281,060 30,907 Total PETROLEUM product produced by the three local refineries amounted to 9,280 ,829 metric tonnes for the year 1997.