OLYMPIC REFINERY & PETROCHEMICAL
RESOURCES LIMITED
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Why Nigeria?

Currently, the overview of general oil & gas data for Nigeria are:

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    Nigerian is the 6th largest Crude Oil-producing nation in the world.

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    Nigerian oil fields’ “Collective Reserves” that have not yet been fully developed are 2,000,000,000+ barrels.

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    Total crude oil reserves at the beginning of the year stood at 31.218 billion barrels of oil.

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    5.314 billion barrels of condensate.

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    182.816 trillion cubic feet of gas.

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    Associated gas stands at 92.945 barrels.

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    Non-associated gas is about 89.871 barrels.

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    Gas production is 6.8 billion cubic feet per day (bcf/d).

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    Gas being flared is 1.4bcf/d.

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    The government's target of growing reserves is up to 40 billion barrels.

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    The target of crude oil increasing production to 4 million BPD.

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    Natural Gas of High Quality (positioned 2nd in the world reserves).

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    Nigeria's daily crude oil export (OPEC Quota): 1.96mbpd.

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    Total daily production capacity: 2.6mbpd of crude.

  • Consequently, based on the above premise, Olympic's new Refinery & Petrochemical Plant will represent a unique opportunity for Nigeria to take a strategic position in the constant supply of petroleum products for the growing domestic demand and in the surrounding area, as well as in China, U.S. and Europe with a positive impact on its economy, the balance of trade and currency which calls for aggressive exploration of untapped Oil & Gas Wells as well as refining programs respectively.