By Sebastine Obasi

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri has stated that Nigeria’s dwindling oil production and the urgent need to boost investment in the sector makes it imperative for collaboration between the federal government and Petroleum Technology Association of Nigeria, PETAN.

The minister stated this when he visited members of PETAN in Lagos.

He explained that the quickest way for the country to overcome the current economic hardship is through the exploration of oil and gas, while assuring that the federal government is actively engaged in policy evolution aimed at maximising the utilisation of all available wells in the country.

“No country leaves their oil well idle. In Nigeria, so many seismic activities have been done and we have a lot of oil wells that are yet to be utilized , Imagine one of the OML’s has about 150 idle wells. There is no way we can increase production if these wells continue to be idle.

“The wells are already drilled and capped since the 1970’s. These are low-hanging fruits. Part of our policy direction is to see how we can farm out some of these idle wells for proper utilization. Now that the world is transiting to cleaner energy, the country must use the available time to maximise utilization of the wells to increase production.

‘’Except we increase our production, our midstream and downstream will continue to suffer. I believe that I and PETAN need to work together so that we can maximise the opportunities the industry can avail us for the economic prosperity and development of the nation.’’

Explaining the federal government’s commitment, the Minister said, ‘’I have made a strong commitment to work with PETAN and other Nigerians in the oil and gas sector who have shown the proven capacity to ensure growth of the sector. I have the conviction that the solution to our energy poverty lies with us, nobody or nation will come and salvage this industry, except we Nigerians.

‘’I believe that if Nigerians are allowed to play at the desirable level there will be a lot of improvement in the sector.

Also speaking, Chairman of PETAN, Wole Ogunsanya reiterated the association’s commitment to support the federal government’s efforts towards increasing oil production and development of the energy sector.

He also urged the government to give incentives to stakeholders in the industry so as to ensure better output and economic benefits for the nation at large.

‘’Honourable Minister, we thank you and assure you that we will continue to align ourselves with the vision of the president. And as we have continually said, the nation must show its indigenous capacity to explore and drill oil 100 percent.

He affirmed that PETAN members are ever ready to help in the development of the sector.