…Says Nigeria’s Energy Security Depends on Sustained Exploration
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has called on petroleum exploration experts and industry stakeholders to intensify efforts towards expanding Nigeria’s hydrocarbon reserves through sustained exploration, technological innovation and increased indigenous participation.
Lokpobiri made the call while delivering his address at the 44th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE), themed, “Unlocking More Barrels: Driving Reserves Growth Through Exploration, Local Capabilities and Adaptive Technology.”
The minister emphasised that Nigeria’s petroleum industry must look beyond maximising production from existing oil fields and prioritise deliberate efforts to replenish national reserves.
According to him, declining reserves pose a serious threat to the country’s long-term production capacity, energy security and government revenue.
“The future of Nigeria’s petroleum industry cannot rest solely on maximising production from existing fields. We must continuously replenish our reserves through deliberate, sustained and commercially viable exploration,” he stated.
Senator Lokpobiri highlighted the significant hydrocarbon potential of Nigeria’s underexplored sedimentary basins, including Anambra, Bida, Sokoto, Chad and Benue, urging increased investment in geological studies, seismic data acquisition and exploratory drilling.
He also stressed the need to embrace advanced technologies, including artificial intelligence and digital subsurface modelling, while strengthening indigenous capabilities and promoting technology transfer.
The minister further noted that ongoing Federal Government reforms, particularly the implementation of the Petroleum Industry Act and targeted fiscal incentives, are designed to improve the investment climate and attract more capital into the petroleum sector.
He assured industry stakeholders of the government’s commitment to creating an enabling environment for exploration investments, maintaining that growing Nigeria’s hydrocarbon reserves remains essential to energy security, economic development and national prosperity.
