Sunday Okobi
The Independent Petroleum Producers Group (IPPG) has stated that it is setting the path to chart a sustainable future for independent petroleum producers as it leads the dialogue on Nigerian Energy Landscape at the just concluded Nigeria International Energy Summit (NIES 2024).
In his keynote address, the Chairman of IPPG, Mr. Abdulrazaq Isa, at the Nigerian Petroleum Producers Forum panel session during the NIES 2024, highlighted the indispensable role of Nigerian independence in shaping the country’s energy future amid global and domestic shifts.
According to him, “Innovation, collaboration, and resilience are the pillars upon which Nigerian independent producers stand to shape our country’s energy destiny. As we navigate through global shifts and domestic aspirations, it is imperative for us to unite, innovate, and collaborate tirelessly.”
Under the sub-theme: ‘Innovation, Collaboration, and Resilience: Empowering Independent Producers in the Dynamic Energy Era’, Isa further emphasised the urgent need to reverse production declines and strive towards national production goals of 4 million barrels of oil per day (bpd) and 13 billion cubic feet (BCF) of gas per day.
He underscored the significance of recent International Oil Company (IOC) divestments by ExxonMobil, ENI, and Shell, identifying these transactions as pivotal opportunities for Nigeria’s oil and gas industry transformation.
Furthermore, the IPPG chief articulated a compelling vision for Nigerian independent producers to reclaim pre-2006 production levels, particularly in onshore and shallow water areas, through robust growth initiatives, emphasising the imperative of expediting IOC divestment transactions to maximise national interests and optimize value.
“It’s time to empower Nigerian independent producers, fortify the industry, and chart a sustainable energy future for Nigeria,” the IPPG chairman said.
The panel session, curated to explore strategies empowering Nigerian Independents amid industry complexities aimed to identify policy interventions fostering sustainable growth. Key areas of focus included sustainable financing frameworks for IOC divestments, enhanced security to mitigate disruptions, technology transfer facilitation, and ensuring asset integrity.
While acknowledging the expertise of the panelists and anticipating robust contributions to addressing critical industry challenges, Isa further urged active participation in the session to collectively chart a path forward, empowering Nigerian Independents, fortifying the industry, and contributing to Nigeria’s sustainable energy future.
Members of the panel included Dr. Ainojie Alex Irune, executive director Oando Plc/ COO Oando Energy Resources; Mr. Shane Harris, CEO, Exxonmobil Nigeria; Mrs. Oritsemeyiwa Eyesan, Executive Vice President (E & P), NNPC Limited; Mr. Matthieu BOUYER, CEO, TotalEnergies; Mr. Demola Adeyemi-Bero, managing director, First E&P Development Co Limited; Mrs. Elohor Aiboni, managing director, SNEPCo; and Mr. Adegbite Falade, CEO, Aradel Holdings Plc.
The Independent Petroleum Producers Group (IPPG) is a leading association representing indigenous operators in Nigeria’s petroleum industry committed to advancing the interests of its members and contributing to the sustainable development of Nigeria’s energy sector.
