Chairman, Society of Petroleum Engineers Nigeria Council Chairman, Mr Francis Nwaochei, has urged Nigeria and other African countries to leverage emerging opportunities in the global energy sector.
Nwaochei, who made the call on the sidelines of the ongoing Offshore Technology Conference in Houston, U.S. on Thursday, said this could be achieved by strengthening local technology and indigenous capacity development.
He said discussions at the conference reflected a growing global consensus around a new energy narrative focused not solely on “energy transition” but on an “energy mix” that accommodates varying regional realities.
According to him, emerging oil-producing countries such as Guyana are strategically leveraging petroleum resources to drive wider economic growth beyond crude production.
“So far, it has been an excellent conference. One major takeaway is that the global conversation is shifting from energy transition to energy mix, and there appears to be broad alignment around that reality,” he said.
Nwaochei noted that Guyana’s development model offers important lessons for Nigeria, particularly in linking petroleum revenue to sectors such as infrastructure, real estate and broader economic expansion.
“Guyana is looking at the entire value chain, not just producing oil and generating revenue, but also how that revenue transforms other sectors of the economy. That is something Nigeria can learn from,” he said.
The chairman said Africa currently holds a strategic advantage in the global energy market due to its relative stability compared to some volatile oil-producing regions.
Nwaochei said, “There is a huge opportunity for Africa at this moment because global attention is gradually shifting towards the continent.
“Despite challenges, Africa remains relatively stable, and investors recognise that.”
Drawing parallels with Angola’s oil sector resilience during periods of conflict, he described stability as one of Africa’s strongest competitive assets.
“Business thrives in peaceful environments. Just like tourism flourishes where there is peace, investment in energy also grows where there is stability,” he added.
Nwaochei also highlighted the increasing role of indigenous Nigerian energy firms in boosting crude oil production following asset divestments by international oil companies (IOCs).
According to him, local operators are demonstrating capacity by reopening dormant wells, maximising existing assets and increasing production through strategic investments and operational efficiency.
“There is significant focus now on maximising existing opportunities through financing, digital technology and stronger local participation,” he said.
He commended ongoing reforms in local content implementation, noting that collaboration among host communities, indigenous firms and operators remained critical to sustaining peace and productivity in the sector.
On the role of the SPE, Nwaochei said the organisation was implementing strategic initiatives aimed at positioning Nigeria as a future hub for energy technology and innovation.
He disclosed that the SPE Nigeria Council was engaging with the National Universities Commission (NUC) to modernise petroleum and energy-related academic curricula in Nigerian universities.
“One of our biggest concerns is the technology gap. Nigeria must move beyond simply importing equipment and begin developing its own technologies,” he said.
According to him, SPE is identifying Nigerian innovators and patent holders whose inventions can be scaled and deployed across the industry.
“We are trying to ensure that Nigerians become creators of technology, not just consumers of foreign technology,” he stated.
Nwaochei cited the example of a Nigerian innovator who developed a locally patented remotely operated underwater vehicle (ROV), describing such innovations as critical to building indigenous technological strength.
“We may not achieve global leadership overnight, but we must start somewhere.
“If we continue to encourage local innovation and provide institutional support, Nigeria can become a major technology hub within the global energy industry,” he said.
He added that countries such as United States, Germany and France became industrial powers through sustained investment in research, engineering and technology development.
“For Africa to truly maximise this energy opportunity, we must deliberately build local technology that can strengthen not only the oil and gas sector but the wider economy,” Nwaochei said
