For Nigeria to attain its energy transition target, stakeholders in the nation’s oil and gas industry must adapt to the evolving and ever-changing global energy landscape as well as diversify its energy portfolio, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC Ltd), Mele Kyari has said.
Kyari was addressing industry stakeholders, including representatives of the regulatory authorities, players, operators and policy makers at the opening of the 41st Nigerian Association of Petroleum Explorationists (NAPE) Conference in Lagos on Tuesday.
The GCEO, who was represented by NNPC Ltd’s Executive Vice President, Upstream, Oritsemeyiwa Eyesan, underscored the pivotal role of oil and gas exploration in shaping the future of the oil industry, and emphasised the need for dedication, expertise and pursuit of knowledge in the quest to unlock newfrontiers and push technological and economic boundaries within the industry.
Reiterating NNPC Ltd’s commitment, Kyari underlined the company’s dedication to embracing exploration, developing renewables, fostering innovation, adopting emerging technologies, and implementing portfolio management as key drivers of success in the evolving global energy landscape.
He expressed optimism that the NAPE Conference would yield solutions and positively impact the nation’s economic landscape.
Acknowledging the global shift towards renewable energy, the NNPC Ltd. GCEO pointed out the challenges posed by intermittency, predictability, and reliability due to geological constraints.
Also, he highlighted the absence of a perfect energy source and advocated fora diversified energy portfolios that leverages innovation and technology to harness the strengths of different energy sources towards realising set national energy transition agenda.
The NAPE Conference is an annual convergence of geologists and industry professionals engaged in oil and gas exploration and production operarions.
This year’s edition focussed on the theme: “Repositioning the Oil & Gas Industry for Future Dynamics”, which sought to advance the study and application of geosciences for the benefit of stakeholders.
