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NIGERIA TO MAINTAIN A LEADING EDGE AS AFRICA’S HIGHEST OIL PRODUCER By: Helen Nkwo

The GMD, NNPC, Engr. Yakubu and the President of CWC, Mr. Aliero Para

The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Engr. Andy Yakubu, has said that Nigeria is determined to maintain its leading position in oil production in Africa. Engr. Yakubu said this at the just concluded 2014 edition of the Nigeria Oil and Gas Conference (NOG).

The Conference with the theme ‘Nigeria’s strategy to maintain its position as Africa’s Leading Producer’ was held in Abuja.

The GMD pointed out that Nigeria sits at the fulcrum of the Gulf of Guinea with most of the prolific deltas in the world with reserves of about 36 billion barrels of oil and about 182 TCF of gas. Despite the above, the country has been faced with unprecedented challenge of incessant pipeline vandalism that has plagued the industry in recent years resulting in production loss/deferment of about 300,000 barrels/day.

Undeterred by this challenge, the GMD said that the Oil and Gas Industry has evolved several initiatives aimed at addressing pipeline vandalism. The industry is also deploying new strategies to improve small field economics, new acreage management and a paradigm shift in new explorations amongst some others.

Engr. Yakubu stated that the incremental effect of the implementation of these strategies will result in significant production increases in the medium to long term which will secure Nigeria as Africa’s leading Oil producer.

Also speaking at the conference, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB).

Engr. Ernest Nwapa, reeled out the score card of the Board. He said that the Industry can comfortably do 90% Engineering Man hours in Nigeria and about 50% of fabrication in-country. He stated that the area of concern is that of the manufacturing sector which is still toddling. He emphasized that progress in the manufacturing sector is expected to have a ripple effect of generating employment opportunities in Nigeria.

The Acting Group General Manager, NAPIMS, Mr. Fidel Pepple speaking during the corporate and community partnership economic empowerment session said that building synergies amongst the International Oil Companies is key in achieving the much desired economic empowerment of the communities. The industry, he said, should transit from individual companies doing small projects of little or no significance to do major projects that are sustainable and with lasting impact.

© 2015 NAPIMS
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