Stakeholders in the Nigerian oil and gas sector have been tasked by Mele Kyari, the group chief executive officer of NNPC Ltd., to adapt, change, and take the lead in the rapidly shifting global energy landscape.
This claim was made by Kyari on Tuesday during his industry speech at the 41st Nigerian Association of Petroleum Explorationists (NAPE) Conference opening ceremony in Lagos.
The GCEO, represented by Oritsemeyiwa Eyesan, Executive Vice President, Upstream, NNPC Ltd., emphasized the importance of oil and gas exploration in determining the direction of the oil industry and the need for commitment, knowledge-seeking, and skill in order to break new ground and push the boundaries of technology and economics in the sector.
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In a statement, Kyari reaffirmed NNPC Ltd.’s commitment, highlighting the company’s focus on exploration, renewable energy development, innovation, adoption of emerging technologies, and portfolio management as critical success factors in the changing energy landscape.
He was upbeat that the NAPE Conference would produce results and have a favorable effect on the country’s economic climate.
The GCEO acknowledged the worldwide trend toward renewable energy but also highlighted issues including variability, predictability, and dependability brought on by geological limitations.
He went on to emphasize that there is no such thing as a perfect energy source and promoted the idea of a diversified energy portfolio that makes use of innovation and technology in order to maximize the benefits of various energy sources.
Every year, geologists and other industry professionals involved in oil and gas production and exploration come together for the NAPE Conference. The subject for this year’s event is “Repositioning the Oil & Gas Industry for Future Dynamics,” which aims to promote geoscience research and applications for stakeholders’ benefit.