…says PETAN members have invested $100bn in high-tech equipment
Oredola Adeola
Engr. Wole Ogunsanya, Chairman of the Petroleum Technology Association of Nigeria (PETAN), has revealed that Nigerian indigenous oil and gas servicing companies are taking the lead in drilling, engineering and fabrication, asset acquisition, field development, and technology deployment across Africa.
The PETAN Chairman made this remark in his address at the opening ceremony of the 2026 Sub-Saharan Africa Petroleum Exhibition and Conference (SAIPEC) on Tuesday in Lagos.
According to him, PETAN members have invested over $100 billion in high-tech equipment in recent years.
Ogunsanya highlighted the evolution of local firms from service providers to strategic partners capable of delivering complex projects to international standards.
He credited this progress to robust local content policies and deliberate capacity-building initiatives within Nigeria’s energy sector.
“PETAN members have evolved from service providers to strategic partners, delivering complex projects to international standards,” Ogunsanya said.
“Sustaining these gains requires policy consistency, access to financing, contract sanctity, and stronger collaboration between operators and service companies.”
He emphasised the critical role of technology—including digitalisation, automation, and low-carbon solutions—in improving efficiency, safety, and sustainability across the African oil and gas industry.
Ogunsanya also called for Africa’s energy future to be defined by Africans, stressing the continent’s persistent challenges in energy access, affordability, and reliability.
“Over 600 million Africans lack access to electricity, limiting industrial growth and overall development.
On average, Africa consumes just 25% of the energy per capita compared to developed nations in Europe and North America,” he said.
He warned that inadequate energy supply directly affects life expectancy and economic development, slowing industrialization and institutional capacity.
“We must continue to increase access to energy. It is our responsibility in the oil and gas industry to provide energy access on the African continent,” he added.
Ogunsanya reaffirmed his commitment to building a resilient, inclusive, and sustainable energy industry across Africa, ensuring that the continent’s energy needs are addressed by Africans, for Africans.
