Abuja: Dr Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), affirms the government’s focus on optimising assets and boosting oil and gas output.
He made these remarks while addressing attendees at the 26th Oloibiri Lecture Series and Energy Forum, which was organised by the Society of Petroleum Engineers Nigeria Council, further linking government objectives to the historical context of Nigeria’s oil industry.
This forum commemorates the 1956 discovery of commercial oil in Oloibiri, Bayelsa, providing a fitting backdrop for discussions on Nigeria’s future in oil and gas production.
The forum’s theme, ‘Beyond the Three Million Barrels Target: Harmonising Digitalisation, Capital, and Policy Frameworks for Intelligent Operations and Asset Optimisation,’ set the stage for debates on how these elements can work together to advance the country’s energy sector.
Ekpo emphasised that boosting production depends on integrating digitalisation, capital, and effective policies.
“Digitalisation, which involves using advanced computer technologies, is transforming oil and gas operations through tools like artificial intelligence (AI), predictive analytics (analysing data to forecast outcomes), and automation (using machines or software to perform tasks without human intervention).
“These technologies improve efficiency by streamlining operations, reducing downtime by preventing unexpected shutdowns, enhancing safety by monitoring hazardous conditions, and lowering operational costs across the value chain (the full range of activities needed to produce oil and gas, from extraction to delivery).
He reinforced that government support for digital integration would keep Nigeria globally competitive.
Shifting focus to investment, he said capital remained vital for sustaining infrastructure, especially within a transition-driven global energy market.
He said regulatory improvements and executive directives were strengthening governance and ease of doing business.
Ekpo said Decade of Gas initiatives aimed to expand infrastructure, boost domestic utilisation and support industrialisation.
He emphasised the need for environmental sustainability as part of the government’s strategy, including reducing emissions, ending gas flaring and adopting low-carbon technologies.
Building on Ekpo’s commentary, Mr Saidu Mohammed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, called for stronger capacity and policy frameworks.
Mohammed said Nigeria’s ambition to exceed 3 million barrels per day and 22 billion cubic feet of gas required significant investment.
“Large-scale investments in assets capable of delivering substantial volumes are critical to achieving these targets,” he said.
He noted shifting global energy dynamics favoured Africa as a reliable destination for hydrocarbon investments.
“Recent global crises highlight Africa’s importance in the energy mix, with investment flows increasingly tilting towards the region.
He urged Nigeria to accelerate production expansion as global funding returns to fossil fuels.
He reiterated that supportive policies are essential for simplifying processes, boosting investor confidence, and attracting capital.
Mohammed said the authority would soon launch “Project Nexus,” an initiative to modernise and automate regulatory processes in the oil and gas sector through advanced technology, making them more efficient and transparent.
He said the initiative would align operations with global best practices and ensure a sustainable energy supply.
Mohammed urged operators to join a unified network system with clear operational codes to drive efficiency and accountability.
He concluded that Nigeria must modernise and integrate systems to achieve its energy goals.