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Why marginal fields are not operational

By Sebastine Obasi

THE President of the Nigerian Association of Petroleum Explorationists (NAPE) said the award of most of the marginal fields to politicians instead of technocrats is one of the things responsible for their non-functioning since 2003.

Mr. Biodun Adesanya, President of NAPE, who stated this at a chat with the media in Lagos, said the oil industry requires knowledge and enormous fund to thrive.

“Most of the people that got oil blocks during the marginal field bid round were politicians and not technocrats. The oil industry is capital-intensive. The politicians do not understand the business. Technocrats should be involved in the business so as to add the needed value,” he said.

Giving details of NAPE’s 35th International Conference and Exhibition, slated for November 19 to 23, Adesanya said Nigeria should diversify its economy to agriculture, as food is a basic necessity of life.

According to him, “the Conference also throws its searchlight on survival strategies for petroleum exploration and exploitation in a challenging environment and also examine the effectiveness in the existing policies to drive growth in the oil and gas industry so as to come up with initiatives for the development of road maps and new policy initiatives.

Adesanya also said that Ibe Kachikwu, Minister of State for Petroleum Resources, Kayode Fayemi, Minister of Solid Minerals Development, Peter Obi, former governor of Anambra State, Jeffrey Ewing, Chairman/Managing Director of Chevron Nigeria Limited and Maikanti Baru, Group Managing Director, Nigerian National Petroleum Corporation, NNPC, are some of the speakers at the event.


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