Unitization in the oil and gas industry in Nigeria: Challenges, benefits, and regulatory framework

Gbolahan Solomon Osho

ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, 2024, vol. 2024/2, issue 2, 69-86

Abstract: Unitization is an essential strategy for Nigeria?s crucial oil and gas sector, aimed at collaboratively managing hydrocarbon reservoirs across various leases. This study delves into its complexities, including challenges like ownership conflicts and technical issues, alongside benefits such as enhanced resource recovery and shared technology. Despite these obstacles, unitization promises improved efficiency and sustainable development by fostering cooperation, reducing waste, and promoting responsible extraction practices. The research highlights the necessity of a robust regulatory framework, clear communication, and stakeholder collaboration for unitization to succeed. It concludes that by embracing unitization, Nigeria can advance its energy industry sustainably, aligning with national objectives and ensuring economic and environmental benefits.

JEL-codes: O44 Q48 (search for similar items in EconPapers)
Date: 2024
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