.As NAICE 2026 to focus on capital, infrastructure security, and indigenous operator capacity
CHIGOZIE AMADI
The Society of Petroleum Engineers Nigeria Council says Nigeria’s path to 3 million barrels per day by 2030 now depends on quickly converting newly awarded assets into producing volumes, mobilizing alternative capital, and securing oil and gas infrastructure.
The Chairman, SPE Nigeria Council, Engr. Francis Nwaochei stated this while speaking at the pre event Press Conference to flagged off activities for the 49th Nigeria Annual International Conference & Exhibition (NAICE 2026), scheduled for August 3–5 at the Expo Centre, Eko Hotel & Suites
According to him ,this year’s theme is “Thriving in the Evolving Global Energy Landscape: Collaborative Growth and Resilience.”From licensing to production
Nwaochei noted that the timing of NAICE is critical, coming just a week after the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) concluded the 2025 Licensing Round and awarded 37 oil and gas blocks to 31 preferred bidders.
He noted that “ Awarding blocks is only the catalyst. Converting exploration licenses into daily producing volumes requires rapid technology deployment, reservoir precision, and disciplined capital mobilization,”
SPE commended the Federal Government and NUPRC for what it called an “automated, market-driven process” under the Petroleum Industry Act (PIA). NAICE 2026, he added, will be the first major platform to “decode” the operational and commercial execution of the new assets Indigenous operators now carry 60% of supply
With IOCs rebalancing portfolios toward deepwater, Nwaochei said indigenous independents are now central to onshore and shallow-water output, accounting for roughly 60% of national supply.
He urged them to demonstrate “operational excellence and financial bankability” as they take on asset stewardship, decommissioning liabilities, and field optimization.
In the downstream, he said the rise of world-scale and modular refineries is positioning Nigeria as a regional refining hub. But he called for “commercial harmony” in enforcing Domestic Crude Supply Obligations while preserving market-based returns for producers.
On Capital and infrastructure gaps, To reach 3 million bpd, Nwaochei said Nigeria must go beyond restarting shut-in wells to greenfield projects and subsea tie-backs.
He also pointed to gas commercialization and condensate production — which fall outside OPEC quotas — as immediate fiscal levers.With Western banks pulling back on fossil financing due to ESG, he highlighted the upcoming African Energy Bank in Abuja, expected to be operational by September 2026, alongside regional syndicates and private equity, as key to “energy sovereignty and capital access.
”On security, he said technical tools like digital twins, fiber-optic pipeline monitoring and automated metering must work alongside Host Community Development Trusts under the PIA to secure production corridors.
On what to expect at NAICE 2026, he explained that the 3-day conference will feature:600+ peer-reviewed technical papers on AI, deepwater, reservoir management, and carbon capture
Executive panels on fiscal policy, foreign investment and local content under the PIA
Topical workshop on the expanding role of independents in financing and operations International exhibition of digital energy and subsea technologies Young Professionals and Women Leadership programmes focused on innovation and human-centered leadership Pragmatic energy transition Nwaochei said Africa needs a “pragmatic, just, and balanced” transition. Hydrocarbons will remain critical for industrialization and grid stability for decades, but “carbon competitiveness is now a commercial imperative.”
He urged operators to cut emission intensity through flare elimination, methane reduction and asset electrification to keep Nigerian crude competitive amid carbon border taxes. Gas, he added, remains the key transition fuel.
After the event, SPE Nigeria will issue an official Conference Communiqué to government, regulators and operators to guide policy execution.
“NAICE 2026 is where Africa’s energy policy is converted into technical execution,” Nwaochei said. “We invite investors, operators, service providers, researchers and young engineers to join us.”NAICE 2026 runs from August 3–5, 2026 at Eko Hotel & Suites, Victoria Island, Lagos.
