Quick Answer: How do I register for oil and gas in Nigeria?

NIPEX, an arm of National Petroleum Investment Management Services (NAPIMS) is the online meeting place for purchasers (IOC, NOC) and suppliers (you). You can do your Oil and Gas business in Nigeria for years without registering with NipeX.

How do I start an oil and gas company in Nigeria?

How To Start An Oil And Gas Servicing Company In Nigeria

  1. REGISTRATION OF COMPANY OR INCORPORATE. …
  2. OBTAIN DEPARTMENT OF PETROLEUM RESOURCES (DPR) PERMIT. …
  3. OBTAIN COMPANY’S TAX CLEARANCE CERTIFICATE. …
  4. REGISTER WITH NIGERIAN CONTENT DEVELOPMENT AND MONITORING BOARD (NCDMB). …
  5. REGISTER WITH NATIONAL PENSION COMMISSION (PENCOM). …
  6. OBTAIN INDUSTRIAL TRAINING FUND (ITF) CERTIFICATE.

How do I start an oil and gas company?

Getting into The Oil Business—How to Start Your Own Company

  1. Decide where to invest. There are all sorts of companies in the oil and gas industry—from drilling your own wells to having your own filling station. …
  2. Make a business plan. …
  3. Identify your investors. …
  4. Build a great team. …
  5. Use top-notch equipment. …
  6. Check the regulations.
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How much will it cost to start oil and gas business in Nigeria?

It takes a minimum of 4 – 14 days to complete. The minimum share capital is one (1) million share capitals for Nigerian citizens. As at the time of writing this blog, it could cost you Eighty Five Thousand Naira (₦70,000) to incorporate a company one (1) million share capitals.

How do I register with the Department of Petroleum Resources?

The following documents are required at the point of application for General Category;

  1. Certificate of incorporation or certificate of registration (for an enterprise)
  2. Form CAC 1.1.
  3. Company’s current tax clearance certificate and vat certificate.
  4. Employee’s compensation scheme (Nigeria Social Insurance Trust Fund- NSITF)

7.06.2019

How profitable is palm oil business in Nigeria?

How Profitable Is Palm Oil Business? The palm oil yield per hectare is estimated at 8 tons per year at most. Additionally, the profit farmers make per hectare is around 3.4tons per year.

What is a oil and gas company?

What Is an Integrated Oil and Gas Company? An integrated oil and gas company is a business entity that engages in the exploration, production, refinement, and distribution of oil and gas, as opposed to companies that specialize in just one segment.

How much money do you need to start an oil company?

If you’re going to start an oilfield, be prepared for at least $6 million in starting costs, and possibly more. In an industry where earning a profit can take years, having the assistance of a team like TCI Business Capital can make all the difference.

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Is it easy to start a oil company?

Starting a new oil/petrochemical business can be a lengthy and detailed process. However, with the right resources it does not have to be a tedious or frustrating chore. If you are educated and experienced in the oil industry, determine your strongest skills.

How much does an oil well cost to buy?

Onshore wells can be considerably cheaper, particularly if the field is at a shallow depth, where costs range from less than $4.9 million to $8.3 million, and the average completion costing $2.9 million to $5.6 million per well.

Is oil and gas business profitable?

The oil and gas business is one of the most strictly regulated sectors, yet it remains amongst the most profitable and risky. This is due to the fact that Crude Oil/Petroleum and its derivatives are essential commodities that are consumed on daily basis.

What is the minimum share capital for a private limited company in Nigeria?

While under section 27(2) of the CAMA 1990, the minimum authorised share capital for a private company was N10,000 and for a public company it was N500,000, by virtue of section 27(2) of the CAMA 2020, a private company must have a minimum issued share capital of N100,000 while a public company must have at least N2 …

How do I start a diesel supply business in Nigeria?

So How Do You Start A Diesel Supply Business In Nigeria?

  1. Step One: Find A Diesel Supplier. Getting a diesel supplier in Lagos, for instance, is the first step to starting your diesel supply business. …
  2. Step Two: Find A Diesel Buyer. …
  3. Step Three: Broker A Deal.
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7.08.2017

How much is DPR license in Nigeria?

Registration under the General Purpose Category attracts a statutory fee of ₦ 5,000.00 (Five Thousand Naira) and a processing fee of ₦ 500.00 (Five hundred naira). Job groups under the General category are: WORKS (Artisans): Minor Welding.

What are the requirements for DPR registration?

LIST OF REQUIREMENTS FOR DPR PERMITS

  • Certificate of Incorporation.
  • A certified true copy of Memorandum and Articles of Assoc.
  • Other company incorporation documents, such as CAC Form 1.1 or CAC Form CO2 & CAC Form CO7.
  • Current Tax Clearance Certificate.
  • List of Equipment/Facility available to the company.

How do I get a DPR license?

To get the DPR license, you have to apply online through the DPR website by providing relevant information about your company like your company name, registered address, contact number, and email address; upload the necessary documents; and pay the requisite application and processing fees.

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