PETAN assures of collaboration with NUPRC to boost Nigeria’s oil production

The Petroleum Technology Association of Nigeria, (PETAN), has assured the Nigerian Upstream Petroleum Regulatory Commission, (NUPRC), and all stakeholders in the oil and gas sector that its members with decades of experience in the industry, have all the equipment required to boost oil production in the country.

PETAN Chairman, Wole Ogunsanya, gave the assurance when he led a delegation of PETAN Executive on a courtesy visit to the Commission’s Chief Executive, CCE, Gbenga Komolafe at the NUPRC headquarters in Abuja.

In a statement signed by Publicity Secretary of PETAN, Innocent Akuvue, PETAN Chairman thanked the Commission’s Chief Executive for the good work that he’s doing for the country and  pledged PETAN’s support for government’s policies in the oil and gas industry, stressing that as an advocacy group, PETAN is not unmindful of the challenges facing the industry, including low-level oil production.

Chairman said “We have the rigs, we have the services, untapped resources underground that needs to be tapped and supplied for refining in-country to serve our people. Consequently, we are here to state, just as we told the Hon. Minister of State for Petroleum Resources days ago that we are ready to help boost oil production levels at reduced cost of production using our marginal fields, equipment, and commitment to successfully delivering projects with reasonable incentives. At a time that assets are being sold off in divestment moves with Nigerians taking them over, the services of PETAN members will easily complement efforts to ensure maximum production capacity of oil in the country”.

Ogunsanya, also pledged PETAN’s support for the three road shows of the NUPRC to raise funds for further explorations, adding that PETAN is bringing in several other service companies such as the AFRIEXIM bank to help actualize the goal of shoring up investments.

In his response, the Commissioner Chief Executive of the NUPRC, Gbenga Komolafe commended the new PETAN Chairman, and the enthusiasm of the new PETAN EXCO, noting that it is encouraging to have PETAN’s support in the well challenged Nigerian oil and gas industry.

He added that the multidimensional challenges pose grave concerns for the government, who stands ready for stronger collaboration with stakeholders such as PETAN to navigate the challenges.

He opined that PETAN remains a source of hope in the industry, especially in areas of exploration and production, as well as the development of human capital within the sub-region, which serves as a source of pride to stakeholders.

Speaking on divestments in the industry, Komolafe announced that divestment are nothing but business decisions, and they present opportunities for ability in disability.

Komolafe  added“I’m so excited that we have indigenous capacities thanks to PETAN that can deliver on projects and demonstrate outstanding capacity (Sterling Global). We are also proud of the platform, SAIPEC, that PETAN presents annually to address issues affecting the industry. Our planned road shows are also planned to drive the funding required to drive investments which are often lacking offshore, and we look forward to PETAN’s collaboration on this”.

There were other discussions and contributions from the visiting team about payments to indigenous operators for projects executed, application of dispute resolution mechanisms and regulations of the Commission to ensure sanity in the way business is conducted to protect all key players; addressing oil theft; helping to shape regulations and new processes for the industry to ensure proper hyrocarbon accounting; deeper collaboration through workshops and meetings between the Commission and PETAN’s 13 Technical Interest Groups (TIGs) for information-exchange as well as creating a model and  benchmark for cost of production.

The PETAN team includes the Chairman, Wole Ogunsanya, Assistant Secretary,  Okey Ukaegbu, Financial Secretary, Akin Osuntoki, Ex-officio, Ibilola Onadeko-Amao,  Member, Solomon Ewenehi, Executive Secretary,  Kevin Nwanze and Media Assistant/Abuja Liaison Officer, Zainab Alimi-Ajibola.