Energy transition: Heritage Oil demands industry players to focus on Nigeria’s need
Sopuruchi Onwuka
Players I the Nigerian petroleum industry must work collectively to secure a strong position for Nigeria in the emerging global energy landscape.
Chief Executive Officer of Heritage Energy Operational Services Limited (HEOSL), Ado Oseragbaje, who delivered remarks at the ongoing Nigerian Annual International Conference and Exhibition o (NAICE) of the Nigerian Council of Society of Petroleum Engineers (SPE), said the primary role of the industry should focus on meeting key aspirations of energy producers and consumers.
HEOSL is the operator of OML 30 Joint Venture between the Nigeria Petroleum Development Company (NPDC) and Shoreline Natural Resources Limited (SNRL).
The Oracle Today reports that Nigeria drives realization of key economic targets of growing its reserves and increasing production in order to meet internal needs and expand its space in the international energy market. The country’s energy policy prioritizes domestic supply security, regional supply and multilateral supply commitments.
Sustaining reserves and production programmes has remained a challenge for Nigeria in the face of exploration investment freeze and portfolio diversification agenda of international energy companies that have committed to emission reduction target of home governments.
With divestment programmes hitting the Nigerian petroleum exploration and production industry, government has been prodding independent companies to lead a new industry that would meet the rising need of countries that still rely on fossil energy to drive economic growth and development.
Petroleum producing countries in Africa as well as the Organization of Petroleum Exporting Countries (OPEC) have insisted on continued production of oil and gas to assist in fighting acute energy poverty in developing economies.
Oseragbaje told delegates at the conference which held in Lagos that Nigeria must work to position itself as the energy hub of Africa despite the rising threat by European economies to transition from fossil energy by 2050.
“With the world seeking to transition to zero net emission by 2050, it is a matter of existential imperative for the Nigerian energy industry to appropriately contextualize its place in the fast-evolving scheme of things,” he stressed.
“At Heritage Energy Operational Services Limited, we believe the Nigerian industry holds a prime place in the global energy landscape. It is our expectation that today’s discussions will explore thoughts and ideas on how to best make the Nigerian industry realize its fullest potentials,” he declared.
He called on industry players to engage in open minded conversations on how best to position the Nigerian energy industry for sustainable profitability and relevance in the global energy space.
