FG Urges Local, Foreign Oil coys To Help Tackle Energy Poverty

 

 

The 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.

 

Sylva made the call while delivering an address at the commencement of operation of the TotalEnergies’ Ikike Oil Field in Port Harcourt, Rivers State.

 

Sylva, in a statement by his Senior Adviser (Media and Communications), Mr Horatius Egua, said it was through collaboration with the private sector that Nigeria could meet the growing energy needs of the populace.

 

Sylva, represented by Mr Kamoru Busari, Acting Permanent Secretary of the ministry, encouraged other operators, either indigenous or international oil companies to emulate TotalEnergies in partnering with Nigeria to achieving energy transition and liberation from energy poverty.

 

He said that the major mandate of the ministry was to increase crude oil production to three million barrel per day (bpd) from its meager 1.2 million bpd.

 

He added that the 50,000 bpd from TotalEnergies Ikike Oil Field would no doubt contribute significantly to achieving this mandate.

 

He also said that the 50,000 bpd from the Ikike oilfield would further boost Nigeria’s quest to reach the three million bpd Organisation of Petroleum Exporting Countries (OPEC) mark.

 

Sylva assured that the Federal Government would continue to support investors in the sector for the overall benefits of Nigerians as the journey towards 2060 net-zero omission continued.

 

“We assure TotalEnergies that the ministry will continue to support your efforts to do more in monetising the Nigerian Oil and Gas Resources for the benefit of Nigerians within the window between now and 2060 net-zero pledge of Nigeria,” he said .

 

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

 

“I congratulate 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 clamour and defunding of Hydrocarbon projects by major Oil companies”.

 

“I have no doubt that this achievement is one of the clear signals that Petroleum Industry Act 2021 has started yielding positive results,” he said.