Analysis of the effects of formation damage on the productivity of gas storage reservoirs was performed with depleted oil reservoir (OB-02), located onshore, Niger Delta, Nigeria. Information on the reservoir and the fluids from OB-02 were collected and used to evaluate the deliverabilities of the gas storage reservoir over a 10-year period of operation. The results obtained were used to plot graphs of deliverability against permeability and skin respectively. The graphs revealed that as the permeability decreased, the skin increased, and hence a decrease in deliverability of gas from the reservoir during gas withdrawal. Over the ten years of operating the reservoir for gas storage, the deliverability and permeability which were initially 2.7 MMscf/d and 50 mD, with a skin of 0.2, changed to new values of 0.88 MMscf/d and 24 mD with the skin as 4.1 at the tenth year.