Operators in the upstream oil and gas sector must develop Nigeria-specific programmes to curb carbon emissions as part of the country’s energy transition, Chief Operating Officer, Asharami Energy, Henry Menkiti, has said.
Asharami Energy is the upstream division of Nigeria’s indigenous energy conglomerate, Sahara Group.
Speaking at the Society of Petroleum Engineers (SPE) International Conference and Exhibition in Lagos, Menkiti said Nigeria has to establish a progressive indigenous strategy to guide more responsible mining of hydrocarbons.
“We must keep doing what we try to do best, by producing hydrocarbons as we transit to a new energy era, and at the same time be aware of the dangers directly related to carbon emissions,” he said.
Asharami Energy, Menkiti said, was committed to aligning its operations to processes that promote environmental sustainability.
“Ultimately, addressing carbon emission cutting requires the collective effort of all stakeholders in the upstream sector of the petroleum industry and we believe the SPE can play a critical role in driving the conversation. Sahara Group is happy to play a lead role in this regard,” he added.
Urging the SPE to “evangelize local technical breakthroughs” in the oil and gas sector, Menkiti said this would help address the importance of fast-tracking knowledge sharing, capacity building and efficient operations.
The sector, he said, needs to highlight the positive engagements between the community, government, operator and service companies to enhance the sustainability of the ecosystem.
He noted that internal and foreign investors read and benchmark the health of the ecosystem against their risk portfolios when making critical decisions.
“Sahara Group’s positive multi-stakeholder approach represents an example – a role model where collaboration works; enhancing value across-the-board for all stakeholders. Where this is not at play, it runs the risk of stagnating operations, having lifting costs running sky-high and making such ventures difficult to sustain,” he said.