Federal Govt Solicits Local, Foreign Oil Firms To Help Tackle Energy Poverty

Minister of State, Petroleum Resources, Chief Timipre Sylva, has called on both local and international oil companies to join hands with the Federal Government to tackle energy poverty in the country.

Delivering an address at the commencement of operation of the TotalEnergies’ Ikike Oil Field, on Thursday, in Port Harcourt, Rivers State, Sylva said it is through collaboration with the private sector that Nigeria can meet the growing energy needs of the populace.

“We want to encourage other operators be it indigenous oil companies or international oil companies to emulate TotalEnergies in partnering with Nigeria to achieving a just energy transition and liberate us from energy poverty,” Sylva said, according to a statement, issued yesterday in Abuja.

The Minister noted that the major mandate of the Ministry of Petroleum Resources is to increase crude oil production to 3 million bpd from its meager 1.2 million bpd stressing that the 50,000 bpd from TotalEnergies Ikike Oil Field will no doubt contribute significantly to achieving this mandate.

While noting that the 50,000 bpd from the Okike oilfield will further boost Nigeria’s quest to reach the 3 million bpd Organization of Petroleum Exporting Countries (OPEC) mark, Sylva assured that the Federal Government will continue to support investors in the sector for the overall benefits of Nigerians as the journey towards 2060 continues.

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“We want to give TotalEnergies the assurances that the Ministry of Petroleum Resources would continue to support your efforts to do more in monetizing the Nigerian Oil and Gas Resources for the benefit of Nigerians within the window between now and 2060 net-zero pledge of Nigeria,” he further noted.

The Minister said that the signing of the Petroleum Industry Bill into law is a demonstration of government’s resolve to promote growth and investments in the oil and gas sector of the economy.

Sylva, who was represented at the event by the Acting Permanent Secretary Ministry of Petroleum Resources Engr. Kamoru Busari, said the unveiling ceremony of the TotalEnergies oil field is a clear signal that the PIA has started yielding result.

“I feel greatly honoured to be invited to this ceremony and want to also congratulate and thank TotalEnergies EP Nigeria Limited for the gigantic milestone achievement (Start up of the Ikike field development project – 50,000 bpd in the mist of the Energy transition clamor and defunding of Hydrocarbon projects by major Oil companies”.

He said “I have no doubt that this achievement is one of the clear signals that Petroleum Industry Act 2021, has started yielding positive results. We wish to identify with TotalEnergies in this milestone achievement as a partner in just energy transition, which is what the Honourable Minister of State, Nigeria Government and Africa has been clamoring for.”