Auwalu
The DPR continues to foster innovative ideas and create of opportunities for investments and sustainability in the industry.
The Director, Department of Petroleum Resources, DPR, Sarki Auwalu, stated this on Tuesday at the Society of Petroleum Engineers, SPE, Nigeria Annual International Conference and Exhibition, NAICE 2021 in Lagos.
“As always, we are enthusiastic to collaborate with all relevant stakeholders, including the SPE, towards the realization of governments aspirations for the oil and gas sector. In our role as business enablers and opportunity providers, DPR will continue to promote efficiency to meet the needs of the industry, creating value, enhancing transparency, reducing barriers and transaction costs, and promoting maximum value delivering for the Government, industry, and investors”, he saisd.
“To this end, we cannot fail to highlight the establishment of the National Oil and Gas Excellence Centre, NOGEC, which was commissioned by Mr. President in January 2021 as the one-stop shop to drive safety, cost efficiency and value for the Nigerian oil and gas industry. In his concluding message at the commissioning event, Mr. President stated: ‘I therefore charge you all to …. take full advantage of this Excellence Centre to meet the challenges confronting the industry’. Indeed, the NOGEC integrated resource complex comprising five (5) integrated centres is structured to guarantee Nigeria’s position for sustainable energy, today and in the future.
“As part of the outcomes of the work of the NOGEC, let me use this auspicious occasion to announce a principal industry initiative geared towards the attainment of maximum value delivery from Nigeria’s oil & gas resources, which is germane to the conference and a core focus for SPE. Following an in-depth assessment of the status of the industry, the Department identified the need to formulate the “Maximum Economic Recovery, MER, Strategy for Nigeria” to guarantee the actualization of sustainable resource optimization and the economic benefits arising therefrom. The framework for this industry action plan, outlines six (6) pillars or building blocks namely: Reserves Maturation and Production Optimization, Exploration and Resources Maturation, Improved Oil Recovery and Enhanced Oil Recovery (IOR/EOR) Implementation, Asset Stewardship, Performance Evaluation and Rewards and Risk Management.
This draft Framework according to him has been shared with the industry, including professional associations like the SPE, NAPE and NMGS, in preparation for an industry collaborative workshop to co-develop, and enunciate this strategy for immediate execution. We count on the contributions and buy-in of all stakeholders on this crucial national assignment for our overall benefit and industry sustainability.
“The Future is Bright and for me, the future is Now. We can lead the future and create our own history if we take conscious efforts now. We, at the Department of Petroleum Resources, DPR, as Opportunity House and Business Enablers, will leave no stone unturned as we continue to drive value for stakeholders to grow their wealth and contribute to national development”.
