The Independent Petroleum Producers Group (IPPG), has honoured some of its members at a gala dinner organized by the Group on the sideline of the recently concluded NOG 2022. The chairman of IPPG, Abdulrazaq Isah said the event was held to recognize individuals who have contributed immensely to the sector.
Those honoured by IPPG include the pioneer chairman of Seplat, Ambrosie Orjiako, Austin Avuru of Platform Petroleum, Abdulrazaq Isah of Waltersmith, Dr. Tunde Afolabi of Amni International and Layi Fatona, Pioneer Managing Director of Niger Delta E&P.
Others are, Danjuma Saleh of Waltersmith, Charles Odita, formerly of Shell and Midwestern Oil, Oluseye Fadahunsi, Adebayo Ayorinde, Osariemen Owieadolor, Ignatius Ifelayo, Ebiaho Emafo, Pade Durotoye and Dr. Ladi Bada.
Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe said at the event that with the surging participation of Nigerians in the oil and gas sector, local operators are now responsible for as much as 50% of natural gas production and 30% of crude oil output. Komolafe added that at least 29 assets have been divested in recent years and are now being operated by Nigerians.
“As at today, I am proud to say that indigenous companies contribute about 30 per cent of crude oil and 60 per cent of gas production as well as 40 per cent and 32 per cent of oil and gas reserves respectively,” Komolafe said, disclosing that seven indigenous companies are among the top 20 with the highest oil reserves in the country.
He said the IPPG remains a major force in the exploration of the nation’s hydrocarbons resources for optimal value addition, promising to ensure a clement regulatory environment for the oil producers. He urged IPPG to remain competitive, adopt innovation in decarbonisation and cost efficiency, ensure good relations with host communities and be prepared to make the right investment in gas infrastructure.
The IPPG is an umbrella body of the indigenous Petroleum Exploration and Production (E&P) companies in Nigeria. The Group was established in 2015 with the primary objective of promoting and advancing the development of the Nigerian energy industry. It has 25 members which engages government and other industry stakeholders on matters affecting the industry with a view to realising a sustainable industry aspiration and maximising its contribution to the socio-economic development of Nigeria.
Chairman of IPPG, Abdulrazaq Isah, pointed out that improving in-country value extraction of Nigeria’s hydrocarbon resources and supporting the country’s energy security are some of the lofty goals of the group. He commended President Muhammadu Buhari for the passage of the Petroleum Industry Act (PIA).
The dinner was graced by His Royal Highness, Emir of Bichi, Alhaji Nasiru Ado Bayero, HRH, Etsu Nupe, Alh. Yahaya Abubakar, Country Chair, SPDC, Mr. Osagie Okunbor, Chairman, Board of NNPC Limited, Sen. Margery Okadigbo, CEO, NNPC Limited, Mallam Mele Kyari and many others.