Mkpoikana Udoma
Port Harcourt — Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has declared that the era of inactive oil fields is over, as the Federal Government intensifies efforts to revive exploration activities and ensure full enforcement of the Petroleum Industry Act, PIA, provisions.
Speaking at the 43rd Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists, NAPE, Lokpobiri said the government is driving a renewed agenda that aligns with the global shift from “energy transition” to an “energy mix,” positioning Nigeria for sustained investment and growth in the oil and gas industry.
“In a dynamic industry such as ours, sustainability is key,” Lokpobiri stated. “Energy remains indispensable, and with the change in narrative from energy transition to energy mix, every stakeholder must rise to expectation and play their part responsibly.”
He noted that the previous global energy transition narrative had discouraged investment in fossil fuels, leaving Nigeria’s oil sector undercapitalized.
“The old narrative on transition led to low or no investment in the oil sector,” he said. “But with this renewed focus on energy mix, we must double our efforts in exploration.”
Lokpobiri emphasized that President Bola Ahmed Tinubu’s administration has ensured the full implementation of the PIA, which provides for the Frontier Exploration Fund, FEF, to stimulate exploration in underexplored basins across the country.
“Across the nation, new seismic works and exploration activities are needed,” the Minister said. “The government is committed to ensuring a conducive environment for these operations. This is the best and most appropriate time to harness our natural resources for national prosperity because no economy can thrive without energy security.”
In a firm warning to oil license holders, Lokpobiri said the government will strictly enforce the PIA’s ‘drill-or-drop’ clause to prevent speculative hoarding of licenses.
“The era of dormant fields is over,” he declared. “We will not allow licenses to be held indefinitely without activity. Companies must explore, develop, or relinquish idle assets so others can invest.”
The Minister called on NAPE and industry stakeholders to collaborate with government agencies in maximizing the Frontier Exploration Fund to open new oil and gas frontiers in Nigeria.
“I call on NAPE to partner with the government and other stakeholders in utilizing the FEF and delivering the expected outcomes for our oil sector,” Lokpobiri said. “NAPE remains indispensable to our national energy success.”
The renewed emphasis on exploration could unlock new reserves and boost Nigeria’s production output, which has struggled in recent years due to underinvestment, oil theft, and aging infrastructure.
