Headquartered in Canada with offices in Nigeria and the United Kingdom, Ambit Energy Corporation works to capitalize on oil and gas exploration and production opportunities along Nigeria’s Niger Delta Basin. Ambit Energy Corporation’s strategic corporate structure and targeted exploration and production efforts are designed to provide reliable returns for company shareholders.
There are a number of advantages to investing in oil and gas in Nigeria due to the country’s physical and financial characteristics. For example, a recent Statistical Review of World Energy report from BP indicates that the country is among Africa’s top producers of both oil and gas. The report further stated that Nigeria contains the second-greatest oil reserves and the most significant gas reserves in Africa. Along with these strong performance indicators, data shows that Nigeria yields $40 billion in upstream investment on average each year and currently maintains status as the world’s 12th-biggest oil producing nation.
Experts also note that investors benefit from Nigeria’s favorable oil extraction costs. In the Niger Delta, the Unit Technical Cost of extraction is often $30 less per barrel than in the North Sea region. Despite the currently low price-per-barrel for oil, extraction and production operations in Nigeria still offer positive profit margins that can be beneficial for investors.
Friday, September 18, 2015
Thursday, September 10, 2015
An international energy corporation headquartered in Canada, Ambit Energy Corporation aims to become a leader in West Africa’s emergent energy sector. Initially, Ambit Energy Corporation is focusing its activities in Nigeria, the largest oil producer on the African continent. Much of the country’s oil and gas production today has occurred in the Niger Delta Basin region, located in Southern Nigeria.
As one of the world’s largest petroleum systems, the Niger Delta Basin has an average output of two million barrels of oil per day, with projected reserves of 34.5 billion barrels of oil. Over a period of 55 years, energy companies produced 47 billion barrels of oil. Energy industry experts say that companies can find even more oil reserves by drilling deeper.
As energy firms continue to explore the Niger Delta Basin, others are beginning to eye potential opportunities in the country’s central and northern territories. In addition, some international oil companies have limited their involvement in onshore oil production and begun to focus in deep-water operations near the coast of Nigeria.