PETAN Chairman Advocates National Policy on Oil and Gas Production at Industry Stakeholders Engagement
The Chairman of the Petroleum Technology Association of Nigeria (PETAN), Engr. Wole Ogunsanya, has called for the formulation of a National Policy on Oil and Gas Production Volumes to ensure sustainability in the sector. This proposal was made during the Petroleum Industry Stakeholders Engagement (PISF), organized by the Ministry of Petroleum Resources in Abuja.
Representing PETAN, Engr. Ogunsanya urged the Ministry to prioritize two key actions:
- Enforcement of Section 3.3 of the Local Content Act 2010: This provision mandates that local contractors receive first consideration in the allocation of divested assets, ensuring greater participation of Nigerian businesses in the oil and gas sector.
- A Policy for Consistent Oil Production Volumes: The PETAN Chairman proposed maintaining a production volume of 2 million barrels per day (bpd) for local consumption and export, regardless of crude oil price fluctuations. This strategy aims to bolster energy security and economic stability.
Engr. Ogunsanya attended the engagement with the PETAN Board Secretary, Engr. Eloka Ejeh
High-Profile Attendees
The event brought together key stakeholders and policymakers, including:
- Mrs. Olu Arowolo Verheijen, Special Adviser to the President on Energy.
- Senator Heineken Lokpobiri, Honorable Minister of State for Petroleum Resources (Oil).
- Engr. Gbenga Komolafe, Commission Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
- Engr. Farouk Ahmed, Authority Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Also in attendance were representatives from industry associations and organizations, including the Nigerian Content Development and Monitoring Board (NCDMB), Nigerian National Petroleum Corporation Limited (NNPC), Oil Producers Trade Section (OPTS), and several others from upstream, midstream, downstream, and gas sectors.
Collaborative Efforts
The engagement emphasized collaboration among regulatory bodies, industry players, and trade associations to address challenges in the sector. Key topics included local content development, regulatory compliance, infrastructure enhancement, and workforce training.
Engr. Ogunsanya’s proposals reflect PETAN’s commitment to promoting local participation, fostering sustainable production, and ensuring Nigeria’s oil and gas industry remains competitive in a dynamic global market.