Mkpoikana Udoma
Port Harcourt — As Nigeria hosted the 24th edition of the Nigeria Oil and Gas, NOG Energy Week in Abuja, the country’s oil and gas industry showcased renewed energy, confidence, and reform-driven momentum. With an impressive turnout of global and local stakeholders, the event served as a platform for unveiling ambitious plans, reviewing progress, and rallying the sector around a common vision of energy security, increased production, and environmental sustainability.
Themed “Collaborative Leadership: Charting the Path to Energy Security,” NOG 2025 brought together top government officials, regulators, international oil companies, indigenous operators, technology providers, and investors, all united by a shared goal, repositioning Nigeria as Africa’s energy powerhouse in a rapidly changing global landscape.
FG Orders Oil Companies to Reopen Dormant Wells, Targets 2.06mbpd
In what was perhaps the most striking directive of the Energy Week, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, ordered international oil companies and other upstream operators to immediately resume operations on all dormant oil wells.
“The time for dormant wells is over,” Lokpobiri declared. “Some companies shut down over 500 wells due to delayed divestments. We must reverse that.”
He explained that President Bola Ahmed Tinubu had directed the Nigerian National Petroleum Company Limited, NNPCL, to review all existing Financial and Technical Services Agreements, FTSAs, urging international oil companies, IOCs, to do the same.
“I told them (NNPCL) I don’t agree with your 2027 target of achieving 2million barrels per day, who will wait for you? The President’s expectations are very clear on production,” he said, emphasizing the 2025 budget target of 2.06 million barrels per day.
IOC Divestments, Investor Confidence, and Production Surge
Lokpobiri also pointed to the successful and orderly approval of IOC divestments as a key trigger for renewed investor confidence.
“Someone asked me in America: ‘Why should I invest in Nigeria when you won’t allow me to divest easily and peacefully?’ But once we approved the divestments, investments increased, and production grew by over 300,000 barrels per day.”
He noted that Nigeria had over 40 active rigs and aims to reach 50 by year-end, a sharp rise from 11 active rigs recorded prior to 2023.
Gas Commercialisation: FG Warns Defaulters
The Federal Government also signaled a zero-tolerance policy for non-compliance in gas flare commercialisation. Engr. Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, reaffirmed the country’s climate commitments under the Nigerian Gas Flare Commercialisation Programme, NGFCP.
“Let it be clear: the Commission will not tolerate any Producer that undermines this national climate-action programme, nor will it allow unwilling Awardees to set us back,” he warned.
Komolafe added that Nigeria’s upstream strategy now hinges on gas monetisation, emissions reductions, and a Decade of Gas roadmap supported by the Upstream Decarbonisation Framework.
Chevron Pushes for Pragmatic Energy Future
Chairman and Managing Director of Chevron Nigeria, Jim Swartz, advocated for a balanced, pragmatic energy conversation that aligns economic prosperity with environmental goals.
“Chevron in Nigeria has embarked on a journey to improve and grow our business, referred to as the ‘North Star’,” Swartz said. “We look forward to being a part of Nigeria’s prosperous future.”
He listed Chevron’s strategic moves, including recent deepwater lease renewals, seismic acquisitions, and fast-tracked production from new discoveries, as part of its long-term commitment.
NLNG Advocates Performance Over Talk
Managing Director of NLNG, Dr. Philip Mshelbila, urged stakeholders to move beyond “empty discussions” and deliver measurable performance.
“We have to start changing the narrative. Talk as much as you want, but if the results are not there, then we are just wasting time,” he said.
He applauded recent reforms that have improved gas supply and transport capacity, calling for more investment in domestic gas infrastructure including Floating LNG.
Renaissance Africa Energy Makes Bold Debut
Renaissance Africa Energy Company Limited, Nigeria’s newest upstream operator, marked its official brand unveiling with industry-wide fanfare. Chairman of Renaissance, Dr. Layi Fatona, revealed that the company ramped up production from 140,000 to 240,000 barrels per day in just 104 days of operations.
“For the first time in nearly five years, Renaissance delivered 1.9 million cubic feet of gas to NLNG,” Fatona said.
He stressed that Renaissance is committed to high environmental and safety standards, and pledged full alignment with FG’s production drive.
Refiners Say Nigeria Not Ready for Energy Security
Chairman of Crude Oil Refinery Owners Association of Nigeria, CORAN, Momoh Oyarekhua, lamented the lack of serious support for domestic refining.
“If a crisis like COVID happens again, can we survive six months without importing fuel? That’s the real test of energy security,” he said.
He called for full implementation of the Petroleum Industry Act’s Domestic Crude Obligation and investment support for modular refiners.
Data, Innovation, and Technology as Growth Drivers
In a rousing intervention, Dr. Daere Akobo, GCEO of Pana Group, called for better data governance and innovation.
“Hope is not a strategy, but maybe ‘Renewed Hope’ is,” he quipped, urging all ministers to stop frustrating the president’s reform efforts.
Akobo challenged industry stakeholders to build platforms that reduce costs, increase transparency, and convert invention into innovation.
“We’re known for trending political topics, not disruptive innovation. That must change,” he said.
Conclusion
NOG 2025 confirmed a fundamental shift in tone, leadership, and ambition in Nigeria’s oil and gas industry. As the country seeks to unlock more investment, close infrastructure gaps, and fulfill climate pledges, it must translate rhetoric into action. For now, the roadmap has been laid, and expectations are higher than ever.
