Nigeria is at risk of long-term disruption to oil and gas supplies, power generation, a collapse of industries and significant loss of revenue due to continued reduction in hydrocarbon exploration activities, Alex Tarka, president of Nigerian Association of Petroleum Explorationists(NAPE), has said
He spoke in Lagos yesterday at the association’s pre-event meeting, where he also maintained that reduction in hydrocarbon exploration and exploitation has dire consequences for a country like Nigeria with a mono-economy hinged on crude oil.
He said:’’ Technology is the heart of all the significant achievements in the oil and gas industry. The way hydrocarbon is discovered, developed and produced, has been impacted by evolutionary technologies that have emerged since the Drake well of 1859. But the challenge is how far Nigeria has travelled down the technology road’’.
He added that oil and gas will continue to be fuels of choice for the foreseeable future and conventional and unconventional hydrocarbons are likely to remain the main component of the energy mix needed to meet the growing global energy demand in the next five decades.
According to him, in the coming period, technological innovations will be critical not only in ensuring the supply of affordable hydrocarbons, but in mitigating the environmental impact of hydrocarbon exploration, production and utilization.
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He said his association will deliberating on the petroleum business and the regulatory environment with a view to addressing the challenges of exploration and production in the onshore, offshore and Nigeria’s frontier basins, as well as government and regulatory agencies’ support and funding, Cash Call Exit and incentives , new fiscal regimes, Petroleum Industry Bill, NIPEX operations, licensing rounds, refining capacity mid-stream infrastructure and the domestic gas market at its 38th Annual International Conference and Exhibition
Billed to take place in Lagos between November 15 and 19, the conference, he said, will also be beaming its searchlight on new technology application in exploration and production using big data, digitalization, data analytics, artificial intelligence opportunities, etc.
He also said participants at the conference will also be discussing the impact of renewable and unconventional energy resources in the oil and gas industry as well grooming the next generation of exploration and production professionals.
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The opening ceremony holds on Tuesday 17th November, 2020. His Excellency, Professor Yemi Osinbajo, Vice President, Federal Republic of Nigeria will be the special guest of honour.
The keynote paper titled, The Future of the Nigerian Oil & Gas Industry 2021-2025, will be delivered by Chief Tunde Afolabi, Chairman/ CEO of Amni International Petroleum Development Company Limited.
Besides, the Conference will host speakers who are high-level industry practitioners, key personnel in government and the academia, delivering technical papers on seven sub-themes, such as; Accelerating Nigeria’s Reserves Growth Opportunities, Novel Concepts and Approaches in Geophysics, Petroleum System Studies and Integrated Reservoir Modeling and Emerging Technologies and Current Applications in Exploration and Production
