What is it about?
This study examines whether Nigeria's Petroleum Industry Act (PIA) is associated with changes in upstream investment and production. It analyzes rig activity, crude oil production, and oil prices using historical data and compares Nigeria's post-PIA drilling performance with major African producers.
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Why is it important?
Understanding whether petroleum-sector reforms are associated with changes in investment behavior is important for assessing the effectiveness of the PIA. The study also examines whether increased drilling activity is translating into higher production, while accounting for oil-price movements and operational constraints.
Perspectives
This article seeks to make the changes taking place in Nigeria’s upstream petroleum sector more accessible and engaging. Discussions about rigs, oil prices, production and petroleum regulations may seem technical, but they have wider implications for investment, government revenue, jobs and the Nigerian economy. Beyond the numbers, the study highlights how regulatory reform, investment decisions and operational realities interact to shape the future of Nigeria’s oil and gas industry.
Kaseem Abidemi Obakhume
University of Ibadan
Read the Original
This page is a summary of: Assessing Post-PIA Reform Dynamics in Nigeria's Upstream Petroleum Sector: An Empirical Study of Rig Activity and Hydrocarbon Production, August 2026, Society of Petroleum Engineers (SPE),
DOI: 10.2118/234853-ms.
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