Explorationists Urge Better Reservoir Modelling as Nigeria’s Deepwater Drilling Cost Hits $1m Daily

Oil explorationists in Nigeria are calling for better reservoir modelling practices amid skyrocketing costs, with deepwater drilling now consuming a whopping $1 million per day. The Nigerian Association of Petroleum Explorationists (NAPE) warns that a poor grasp of submarine geology is contributing to these high expenses. This push for improved modelling is crucial for optimizing resource extraction and reducing operational costs, highlighting the need for advanced techniques to sustain the industry's efficiency and profitability.