Nigeria represents one of Africa’s largest oil and gas producers and stands as a significant player in the continent’s pursuit of energy security, sustainability, and economic growth. With a largely established energy sector, Nigeria is committed to scaling-up exploration and production even further, and is inviting global investors and regional partners to invest in the country’s sustainable energy future.
The African Energy Chamber (AEC) is proud to announce that Nigeria’s National Oil Company, the Nigerian National Petroleum Corporation (NNPC), will participate at the upcoming African Energy Week (AEW) conference. Taking place from October 16-20 in Cape Town, the NNPC’s Group Managing Director Mele Kyari will deliver a keynote address, providing insight into the country’s sustainable energy agenda.
Kyari’s extensive experience and leadership in the energy sector, coupled with the NNPC’s pivotal role in advancing Nigeria’s energy landscape, makes him a prominent voice in Africa’s energy sector. His journey began in 1991 at NNPC as a processing geophysicist with Integrated Data Services Limited, and since then, he has held various key roles, including General Manager of Crude Oil Stock Management and Nigeria’s Organization of Petroleum Exporting Countries representative. In 2019, his dedication and expertise were recognized when he was appointed as the NNPC’s Group Managing Director by Nigerian President Muhammadu Buhari.
The NNPC oversees the exploration, production, and distribution of petroleum and petroleum products in Nigeria. It actively engages in international partnerships and initiatives, contributing to the nation’s energy security and economic growth. Under Kyari’s tenure, the NNPC has championed transparency, efficiency, and innovation in Nigeria’s energy sector. Significant reforms and initiatives have been introduced to transform the corporation into a more commercially driven entity.
Nigeria boasts substantial oil and gas reserves and is making significant strides in upstream development. With about 37 billion barrels of proven oil reserves and the potential for a threefold increase in natural gas reserves through new discoveries, Nigeria ranks among top global oil and gas producers. Key projects include the $3.15 billion OML 13 Field, the 110,000 barrels per day (bpd) Bonga North Field, and the 85,000 bpd Okpokunou/Tuomo West Cluster Development. The ‘Decade of Gas’ program is also attracting investments and has identified 20 critical gas projects, presenting substantial billion-dollar investment opportunities across the gas value chain.
Furthermore, Nigeria's regulatory landscape, shaped by the 2021 Petroleum Industry Act, seeks to harness oil and gas investments for sustainable socioeconomic growth. In the downstream sector, Nigeria is actively working to reduce its heavy reliance on petroleum product imports, which currently make up 80% of consumption. The commissioning of the continent's largest oil refinery, the 650,000 bpd Dangote Refinery in 2023, with the NNPC holding a 20% stake, is set to transform Nigeria's economy, ensuring a supply of 300,000 bpd of crude oil. The NNPC is actively seeking investments and collaboration to drive these projects forward.
Meanwhile, several milestones have been achieved in recent months, including the NNPC’s partnership with Nigerian oil and gas company UTM Offshore Limited for the UTM Floating Liquefied Natural Gas (FLNG) project. This ground-breaking endeavor aims to produce 176 million cubic feet of gas per day from the Yoho Field, marking a significant advancement in domestic gas utilization in Nigeria. The agreement underscores the NNPC’s commitment to making liquefied petroleum gas (LPG) more accessible to the Nigerian market, aligning with the corporation’s goal of ensuring domestic gas resources benefit the local population.
Moreover, the NNPC’s confirmation of oil in northern Nasarawa State, the first well of its kind in the region, reaffirms its dedication to exploring Nigeria’s inland basins. Coordinated efforts are underway to bolster frontier exploration in northeastern Nigeria, with a focus on community support and a conducive operating environment. These endeavors aim to transform Nasarawa State’s socioeconomic landscape, attract foreign investment, generate employment, and increase government revenues.
“Kyari’s visionary leadership at the NNPC has been nothing short of transformative. Under his guidance, the company has emerged as a driving force in advancing Nigeria’s energy landscape. His unwavering commitment to innovation and sustainability has catalyzed ground-breaking projects that continue to reshape the future of energy not only in Nigeria but across the African continent,” states NJ Ayuk, Executive Chairman of the AEC.
Kyari’s wealth of knowledge regarding the NNPC’s activities and insights into Nigeria’s energy sector will be invaluable at AEW 2023. He will share critical perspectives on the NNPC’s role in advancing Nigeria’s energy landscape, the corporation’s strategic initiatives, and the broader dynamics of the African energy sector.
Distributed by APO Group on behalf of African Energy Chamber.
AEW is the AEC’s annual conference, exhibition and networking event. AEW 2023 will unite African energy policymakers and stakeholders with global investors to discuss and maximize opportunities within the continent’s entire energy industry. For more information about AEW 2023, visit https://AECWeek.com
Source: Apo-Opa
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