.Assures of policies, initiatives to attract local, international investments.
CHIGOZIE AMADI
The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri has called on all stakeholder’s in the nation’s midstream and downstream energy sectors to leverage technological advancements, as part of effort to boost profitability and enhance environmental performance.
As he assures that the ministry is actively working on policies and initiatives to attract local and international investments, foster technological innovation, and ensure regulatory compliance.
The minister who was represented by Amb. Nicholas Ella, Permanent Secretary of the Ministry of Petroleum Resources, stated this while delivering goodwill message at the 2024 Nigeria Annual International Conference & Exhibition (NAICE), Organized By The Society Of Petroleum Engineers (SPE), Nigeria Council with the theme “Petroleum Industry Value Chain Optimisation: The Inevitability Of Midstream And Downstream Development.”
According to the minister Technological advancements, regulatory frameworks, and strategic partnerships are key enablers in driving the transformation of our midstream and downstream sectors.
He stressed that the optimization of these sectors is not just an option but a necessity for enhancing efficiency, ensuring sustainability, and maintaining our competitive edge in the global market.
‘’Our nation’s petroleum industry has long been a cornerstone of our economy, contributing significantly to national revenue, job creation, and industrial growth.
‘’However, the evolving energy landscape presents new challenges and opportunities that require a comprehensive and integrated approach.At this juncture, it is imperative that we leverage these advancements to enhance the profitability and environmental performance of our industry.’’ By doing so, we can ensure that our petroleum resources are utilized most efficiently and sustainably’’ .He stated
He said through the Ministry of Petroleum Resources, the Nigerian government is committed to creating an enabling environment for investment and innovation in the midstream and downstream sectors.
‘’One of our key focus areas is the development of infrastructure to support the efficient transportation, processing, and distribution of petroleum products. This includes the expansion and modernization of pipelines, storage facilities, and refining capacity to meet both domestic and international demand.
He expressed that the ministry is also prioritizing the adoption of digital technologies and data analytics to improve operational efficiency and decision-making processes in the industry.
Furthermore, he noted that the Ministry is committed to promoting local content and capacity building to ensure that Nigerian companies and professionals play a leading role in the midstream and downstream sectors.
‘’We recognize the importance of developing a skilled workforce that can drive innovation and maintain the highest standards of safety and environmental stewardship.
‘’The Young Professionals’ Workshop and the Women Leadership Programme, highlighted at this conference, are commendable initiatives that align with our goals of inclusivity and leadership development.’’ It is essential to equip our young professionals and female leaders with the knowledge, skills, and opportunities to thrive in the evolving petroleum landscape. He stated
He also noted that the collaboration between industry, academia, and government is crucial for achieving our collective objectives and fostering a culture of continuous improvement.
He encourage all participants to engage actively in the discussions, share insights, and explore opportunities for collaboration during this conference.
‘’Let us work together to unlock the full potential of our midstream and downstream sectors and drive the sustainable development of our petroleum industry.
He thanked the Society of Petroleum Engineers (Nigeria Council) for organizing this significant event. Stressing that their efforts in bringing together industry leaders, professionals, and stakeholders are instrumental in shaping the future of our industry.
