Nigeria has secured approximately $8 billion in investment deals, including equipment purchases, service partnerships, and project funding, through relationships developed at the Offshore Technology Conference (OTC). PETAN’s consistent participation at the OTC has facilitated these deals, with Chairman Wole Ogunsanya highlighting the success of the Nigerian Upstream Petroleum Regulatory Commission’s roadshow last year.
The theme of this year’s session focused on Nigeria’s gas potential for both domestic use and global exports.Ogunsanya announced that PETAN has secured funding for member companies to acquire equipment and initiated a collaboration with Senegal on offshore gas infrastructure. Senegal is seeking technical support from countries like Canada and France and is particularly interested in partnering with Nigeria Gas Company (NGC) for pipeline management.
Reflecting on PETAN’s 30-year journey, Ogunsanya praised the foresight of its founders and expressed optimism for Nigeria’s oil and gas future, highlighting the shift from international to indigenous firms as an opportunity.Ogunsanya emphasized the need to increase and sustain national oil production, targeting 2.5 to 3 million barrels per day, regardless of global prices. He highlighted ongoing refining efforts, including the BUA Group’s 350,000-barrel refinery.
PETAN is working to help members acquire critical equipment and secure funding. Ogunsanya stressed unity among the government, National Oil Company, and Nigerian E&P companies to ensure sustainable production and revenue for national development, urging resilience in the face of price fluctuations.
