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72
Schooling @ STUDENT
Lagos, Nigeria
459
1113
2
3
OIL DISCOVERY IN NIGERIA
<p>Oil was discovered in Nigeria in 1956 by Shell-BP, a British-Dutch multinational, in Oloibiri, a small town in Bayelsa State, Niger Delta region. Here's a brief overview of the discovery ¹ ²:</p><p>- *Early Exploration*: The search for oil in Nigeria began in 1903 with the Nigerian Bitumen Corporation, but operations were halted due to World War I. In 1937, Shell-BP resumed exploration and started drilling activities in 1951.</p><p>- *First Commercial Discovery*: The Oloibiri oil field was discovered on January 15, 1956, marking the first commercial oil find in Nigeria. This discovery led to the export of crude oil in 1958.</p><p>- *Initial Production*: Production began in 1957, with 847,000 tonnes of crude oil exported in 1960. Other significant oil wells discovered during this period include Afam and Bomu in Ogoni territory.</p><p>- *Industry Growth*: The discovery of oil transformed Nigeria's economy, shifting focus from agriculture to petroleum exports. Today, Nigeria is the second-largest oil producer in Africa and has a significant impact on the global energy market.</p><p><br></p><p>Some key facts about Nigeria's oil industry ²:</p><p>- *Oil Reserves*: Estimated at 16-35.3 billion barrels, making Nigeria the 10th most petroleum-rich nation globally.</p><p>- *Oil Types*: Nigeria produces light and sweet crude oil, with low sulfur content, known as "Bonny light".</p><p>- *Major Oil Fields*: 159 oil fields and 1481 wells in operation, with most production coming from the Niger Delta Basin.</p>
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