Journal of Emerging Trends in Economics and Management Sciences: Home

Abstract:
The aim and objectives of the study are to examine the success factors underlying the development of marginal oil field by Niger Delta Exploration and Production Company in Nigeria. An extensive literature review on the development of marginal oil field was carried out and specifically the Ogbelle marginal oil field development project was used as a case study. The study reveals that there are three important conditions relevant to explain the success: The know-how developed by Niger Delta Exploration and Production Company through collaboration with third parties. Risk management among which are the formation of partnership, and joint venture and effective monetization of natural gas and the role of capital market in funds raising which helps in the development of marginal field project. It is recommended that the best route is to forge joint action program by combining best practices by marginal field operators, the government and other stakeholders. The overall significance of the study is to contribute to knowledge on the management of hydrocarbon resource base for economic sustainability in Nigeria.

Keywords: marginal fields, knowledge sharing, risk management, critical success factors, indigenous companies

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