THE FUTURE OF PETROLEUM IN NIGERIA AND PROSPECTS OF SHALE OIL AS AN ALTERNATIVE ENERGY SUPPLIER

Abstract

This paper has reviewed the exigency of exploring the potentials of shale oil and gas as alternative sources of energy in Nigeria. With the discovery of the Mid-Cretaceous oil shale deposits in the Lower Benue Trough and Abakilikli Anticlinorium, the reserves of shale oil in Nigeria provide a substantial potential energy outlook for the country. Through the chemical processes of extraction, isolation, and characterization, the  kerogen of the oil shales has been shown to be of Type I – II (Oil-Prone), and of intermediate thermal maturity status. Further appraisal of the economic potential of the fossil fuel deposits by pyrolysis (modified Fischer Assay), indicated an average oil-yield of more than 42liters tonne-1, which is the lower acceptable threshold for economic exploitation. Therefore,as the revenue from crude oil dwindles, Nigeria should begin to invest in the development of  shale oil and gas without necessarily waiting for the end of the non-renewable hydrocarbon era, estimated on a reserve-to-production ratio of 42 years for crude oil and 152 years for natural gas, at an average of 2.2 million barrels per day.