“We have the rigs, we have the services, untapped resources underground that need to be tapped”- Engr. Ogunsanya
Oredola Adeola
The Petroleum Technology Association of Nigeria (PETAN) has expressed its members’ eagerness to collaborate with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and other key stakeholders in the oil and gas sector, aiming to leverage their extensive industry expertise and advanced rigs and services to access untapped underground resources for facilitating in-country refining and ensuring a stable supply of refined products for the Nigerian populace.
Engr. Wole Ogunsanya, PETAN Chairman, assured of the association’s support for the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) goals during a courtesy visit by PETAN’s executive delegation to Engr. Gbenga Komolafe, NUPRC’s Chief Executive, at the commission’s headquarters in Abuja.
This was confirmed in a statement signed and released to Advisors Reports by Dr. Innocent Akuvue Publicity Secretary of PETAN on Friday.
According to Engr. Ogunsanya, PETAN members are ready to help the Nigerian Government to boost oil production levels at reduced cost of production using our marginal fields, equipment, and commitment to successfully delivering projects with reasonable incentives.
PETAN Chairman commended the CCE for the good work that he’s doing for the country and expressed PETAN’s support for government’s policies in the oil and gas industry, adding that as an advocacy group, PETAN is not unmindful of the challenges facing the industry, including low-level oil production.
According to the Chairman, “We have the rigs, we have the services, untapped resources underground that need to be tapped and supplied for refining in-country to serve our people.
“Consequently, we are here to state, just as we told the Minister of State for Petroleum Resources some 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,” Engr. Ogunsanya said.
The PETAN Chairman further 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 AFREXIMbank to help actualize the goal of shoring up investments.
Engr. Gbenga Komolafe, the Commissioner Chief Executive (CCE) of the NUPRC, in his remark congratulated the new PETAN Chairman and expressed excitement by the enthusiasm of the new PETAN EXCO, adding that it is encouraging to have PETAN’s support in the well challenged Nigerian oil and gas industry, saying 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 noted 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.
On divestments in the industry, Engr. Komolafe submitted that divestment is nothing but business decisions, and they present opportunities for ability in disability.
He said, “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, “the CCE noted.
Advisors Reports further gathered that the other discussions and contributions from the visiting PETAN team to the NUPRC centered around payments to indigenous operators for projects executed, the application of dispute resolution mechanisms.
The delegation also hinted on the 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 hydrocarbon 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.
Advisors Reports therefore gathered that the PETAN team consisted of the Chairman, Engr. Wole Ogunsanya FNSE, Assistant Secretary, Dr. Okey Ukaegbu, Financial Secretary, Mr. Akin Osuntoki, Ex-officio, Dr. Ibilola Onadeko-Amao Ph.D FEI FNSE FIoD FAEng, Member, Mr. Solomon Ewenehi, Executive Secretary, Engr. Kevin Nwanze and Media Assistant/Abuja Liaison Officer, Mrs. Zainab Alimi-Ajibola.
