• Tuesday, April 16, 2024
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IPPG charts path to a sustainable future for independent producers

IPPG charts path to a sustainable future for independent producers

Abdulrazaq Isa, chairman of the Independent Petroleum Producers Group (IPPG) has identified ways to drive growth and ensure a sustainable future for independent producers.

Leading a dialogue on the Nigerian Energy Landscape, Isa listed innovation, collaboration, and resilience as the pillars upon which Nigerian Independents stand to shape the nation’s energy future.

Delivering a keynote address at the Nigerian Petroleum Producers Forum panel session held during the just concluded Nigeria International Energy Summit, Isa said that independent producers play an indispensable role in shaping the nation’s energy future amid global and domestic shifts.

“As we navigate through global shifts and domestic aspirations, we must unite, innovate, and collaborate tirelessly,” Isa advised members of the group.

Under the sub-theme ‘Innovation, Collaboration, and Resilience: Empowering Independent Producers in the Dynamic Energy Era,’ Isa emphasised the urgent need to reverse production declines and strive towards national production goals of 4 million barrels of oil per day and 13 billion cubic feet of gas per day.

He stressed the significance of recent divestments by of International Oil Companies (IOC) including ExxonMobil, ENI, and Shell, identifying those transactions as pivotal opportunities for Nigeria’s oil and gas industry transformation.

Isa further articulated a compelling vision for Nigerian Independents to reclaim pre-2006 production levels, particularly in onshore and shallow water areas, through robust growth initiatives.

He also emphasised the imperative of expediting IOC divestment transactions to maximise national interests and optimise value.

“It’s time to empower Nigerian Independents, fortify the industry, and chart a sustainable energy future for Nigeria,” the IPPG Chairman said.

The panel session, curated to explore strategies to empower Nigerian Independents amidst industry complexities, aimed to identify policy interventions fostering sustainable growth.

Key areas of focus included sustainable financing frameworks for IOC divestments, enhanced security to mitigate disruptions, technology transfer facilitation, and ensuring asset integrity.

While acknowledging the expertise of the panellists and anticipating robust contributions to addressing critical industry challenges, Isa called for active participation in the session to collectively chart a path forward, empowering Nigerian Independents, fortifying the industry, and contributing to Nigeria’s sustainable energy future.

The Independent Petroleum Producers Group is a leading association representing indigenous operators in Nigeria’s petroleum industry committed to advancing the interests of its members and contributing to the sustainable development of Nigeria’s energy sector.

Members of the panel include; Ainojie Alex Irune, executive director of Oando Plc/ COO Oando Energy Resources; Shane Harris, CEO of ExxonMobil Nigeria; Oritsemeyiwa Eyesan, executive vice president (E&P) at NNPC Limited; Matthieu BOUYER, CEO of TotalEnergies; Demola Adeyemi-Bero, managing director of First E&P Development Co Ltd; Elohor Aiboni, managing director of SNEPCo; and Adegbite Falade, CEO of Aradel Holdings Plc.