Nigeria seeks investment to boost output, reserves by 2010

Nigeria is planning to more than double its daily production by 2010, according to Presidential Advisor on Petroleum Matters Rilwanu Lukman. Lukman indicated production would rise to 5 million b/d from the current 2 million b/d, a level constrained by the production cutback agreement signed by the Organization of Petroleum Exporting Countries and some key non-OPEC nations.Norway and Nigeria are discussing joint projects in which Nigeria can benefit from Norway's offshore experience. Speaking at a roundtable organized by an association of Norwegian oil producers, Lukman also estimated Nigerian reserves could be increased to 50 billion bbl over the next 10 years.The advisor said the gre...

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