By Milcah Tanimu

Encouraging a united front among upstream operators, particularly independent producers, the Nigerian National Petroleum Company Limited (NNPC Ltd) advocates for a concerted effort to tackle the obstacles impeding the optimal development of divested assets within the nation’s oil and gas sector.

At a panel discussion during the 2024 Nigerian International Energy Summit (NIES 2024) in Abuja, Mrs. Oritsemeyiwa Eyesan, Executive Vice President of Upstream at NNPC Ltd, emphasized the necessity for enhanced collaboration under the theme “Innovation, Collaboration, and Resilience: Empowering Independent Producers in the Dynamic Energy Era.”

Reflecting on past experiences with divestment, Eyesan expressed disappointment over the underwhelming performance of many assets, citing declines in production rather than growth. She underscored key metrics such as production and reserves growth, highlighting a collective need for improvement.

While acknowledging isolated success stories among independent producers, Eyesan outlined prevalent challenges including insecurity, financial constraints, and technological deficiencies. She stressed that through unified efforts within the industry, these challenges could be effectively addressed.

Eyesan proposed the establishment of a collaborative “war room” to expedite problem-solving processes, rather than relying on individual stakeholders to tackle issues independently. She emphasized the urgency of collective action, asserting the need for sustained collaboration.

The panel session featured industry leaders such as Mr. Adegbite Falade, CEO of Aradel Holdings; Mrs. Elohor Aiboni, Managing Director of SNEPCo; Mr. Demola Adeyemi-Bero, Managing Director of First E & P Development Company; and Mr. Matthieu Bouyer, CEO of TotalEnergies. Also present were Mr. Shane Harris, CEO of ExxonMobil Nigeria; Dr. Ainojie Alex Irune, COO of Oando Energy Resources; and Mr. Cosmas Iwueze, Director of Joint Venture at Chevron Nigeria.