July 21, 2024

Full exploitation of Nigeria’s proven gas reserve fundamental to attainment of net-zero target -Obike, SPE, Nigeria Chairman

Oredola Adeola


The Nigeria Council of the Society of Petroleum Engineers (SPE) has called for the full exploitation of the country’s proven gas reserve to drive its carbon neutrality target, energy transition and guarantee energy security.


Mr. Felix Obike, Chairman, SPE Nigeria Council said this on Sunday, April 9, 2023, while speaking to newsmen in Abuja.


According to him, Nigeria needs to deepen programmes and projects focused on gas utilisation and policy implementation in order to achieve its net zero carbon emission target.


Obike said Nigeria as a gas country boost of 209.5 Trillion Cubic Feet (TCF) proven natural gas reserves waiting to be exploited to guarantee the country’s energy security.


He emphasised that capacity building is a fundament to the country’s drive to harness the gas potential. This according to him is needed alongside investments, funding, infrastructure, and technologies, critical to achieving energy transitions.


The Council Chairman further noted that the just concluded 2023 Society of Petroleum Engineers Oloibiri Lecture Series & Energy Forum, SPEOLEF2023, was organised to formulate and implement policies aimed at delivering effective and sustainable energy in the country.


The 2023 edition of OLEF had as its theme: “Effective Gas Resources Utilisation: A Lever for Enhancing Energy Security and Achieving Net-Zero Emission Goals in Nigeria”.


Council Chairman further said the capacity building is also being spearheaded by the Petroleum Technology Development Fund (PTDF) in the tertiary institutions to ensure development of professionals.


He said that the capacity-building training would focused on gas production and technology courses among others all of which have been incorporated into the tertiary institutions’ curricula.


Obike said, “Since Nigeria is committed to net zero and energy transition targets, we still need to develop its reserves to harness opportunities in the oil and gas industry which accounts for 90 percent of the country’s revenue.


“We are now trying to harness the gas potential and producing them in a safe manner to reduce emission through technological applications,” SPE Nigeria Council Chair noted.