It is a pleasure to welcome you to the official website of the Independent Petroleum Producers Group (IPPG).
IPPG is an association of indigenous Exploration and Production (E&P) companies with a current membership of twenty-five(25) companies. Our vision was premised on our shared interest and desire to promote the continued development of the Nigerian Petroleum Industry for the benefit of industry stakeholders and the nation. Established in 2015, our primary goal is to maximize the contribution of the domestic oil and gas industry to the socio-economic development of Nigeria.
The Oil and Gas industry, particularly the upstream sector, remains important to the growth of the Nigerian economy - significantly contributing to the nation’s income and foreign exchange earnings. In recent years, global and domestic industry challenges have adversely affected the fortunes of the industry: the price shock in the global crude market, impact of shale oil technology advancement on global supply dynamics, security situation in the Niger Delta, Joint Venture (JV) funding constraints, delay in the passage of the Petroleum Industry Bill (PIB), and inherent industry inefficiencies have all contributed to the decline in Nigeria’s global petroleum competitiveness.
Notwithstanding these challenges, indigenous E & P companies have brought unique operating capabilities into the Nigerian Oil and Gas industry – developing marginal fields into mid-sized producing assets, materially growing production from divested JV assets, significantly contributing to domestic gas supply and now impacting midstream and downstream sectors in the gas processing and refinery space.
This has resulted in the remarkable growth of daily crude production over the last decade with indigenous companies now responsible for about 18% of total national production – a significant leap from 3% as at 2007. This feat has been achieved through the commitment of our members who have made significant investments to date in acquiring assets and ramping up production. These investments are yielding positive results and gradually moving indigenous producers to their aspirations of contributing 30 - 40% of the nation’s 3 million BOPD and 40 billion barrels of crude reserves target.
It is also noteworthy to mention that indigenous producers are responsible for over half of the gas supplied to the domestic market – which serves an important feedstock for the power industry. Through favourable Government policies promoting gas development, indigenous companies are well positioned and will be at the forefront in furthering the power agenda of the country.
As the pioneer Chairman of the IPPG, it is my hope that the indigenous operators play a leading role in meeting the cardinal priorities of the administration’s agenda for the Oil & Gas industry. To this end, IPPG will continue to constructively engage all stakeholders in nurturing a petroleum industry that can take its rightful place in the global space and be of pride to us all.
Once again, welcome to our official website!