Oil Sector Must Blend Tech, Capital, Policies to Beat 3mbpd Goal – PTDF

Nigeria’s oil and gas sector must integrate digital technologies, efficient capital use, and robust policies to exceed the three million barrels per day production target, the Petroleum Technology Development Fund (PTDF) said on Thursday.
Delivering the welcome address at the 26th Annual Oloibiri Lecture Series and Energy Forum (OLEF 2026) in Abuja, PTDF executive Secretary Prof. Shuaibu Shehu, emphasised the theme: “Beyond the Three Million Barrels Target: Harmonising Digitalisation, Capital and Policy Frameworks for Intelligent Operations and Asset Optimisation.”
Represented by the general manager, Research and Innovation, PTDF, Olayinka Agboola, Prof. Shehu, highlighted gains from the Petroleum Industry Act (PIA), which has enhanced investor confidence and regulatory clarity.
Digital tools like automation, AI, IoT, machine learning, and robotics are now transforming operations, slashing costs, and sharpening decision-making across the value chain.
The gas sector also shows promise, with infrastructure drives boosting industrialisation, energy access, and Nigeria’s role in the global energy transition.
He said the PTDF is ramping up human capital efforts through PhD Split-Site Programmes, Centres of Excellence in Kaduna and Port Harcourt, specialised tech trainings, STEM initiatives, and academia-industry partnerships. “We prioritise sustainable local capacity over international dependence,” Agboola noted, pushing research commercialisation to tackle real challenges.
However, challenges remained, including operational hurdles, regulatory delays, and the need for collaboration among regulators, operators, financiers, and trainers, he noted.
Organised by the Society of Petroleum Engineers (SPE), OLEF gathers policymakers, industry leaders, and academics to foster innovation and growth.