Mkpoikana Udoma
Port Harcourt — An expert and stakeholder in the oil and gas industry, Mr. Victor Ekpenyong, has urged the federal government to leverage on the current upsurge in oil prices to earn more revenue, by increasing the country’s oil production level.
Ekpenyong, who is also the CEO of Kenyon International West Africa, an oil servicing firm, advocated a boost in oil production ahead of the 2060 date energy transition date set by the federal government for net zero emission
The stakeholder recalled that Nigeria at the 2021 COP26 in Glasgow pledged to achieve a net zero carbon emission by 2060, and also planned to use gas as its transition energy source due to its low emission of greenhouse gases.
He proposed deployment of idle well management strategy and remote well control as key solutions to combating oil theft which can equally maximise oil production to increase revenue and facilitate Nigeria’s energy transition.
Ekpenyong noted that since oil accounts for the major source of revenue in Nigeria, it behooves the federal government to maximise its oil production through putting measures that deter oil theft and vandalism.
“An idle well management strategy will enable a well to be decommissioned safely to protect it from being vandalized and restore an abandoned well to full potential when necessary.”
On remote well control, he disclosed that “it is a technology that can be deployed to protect oilfields facilities and environment from hazards such as blowouts.”
Ekpenyong further appealed to the federal government to integrate the idle well management strategy and remote well control to help reduce the number of emerging idle wells.
“The approach will boost oil production which can in turn help fund and facilitate a smooth transition into clean energy.”
Follow us on twitter
