FG Outlines Measures To Attain 3m BPD By 2030

BY CHIKA OKEKE, Abuja

As part of efforts to increase Nigeria’s crude oil production, the Federal Government has outlined measures to attain three million Barrels of oil Per Day, BPD, by 2030.

To this end, the Federal Government enjoined petroleum engineers and other industry professionals to support the initiative, adding that the government is developing more fields and building new infrastructure to handle incremental crude oil volumes.

Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri stated this in Abuja at the inauguration of the sixth National Chairman of the Nigerian Institution of Petroleum Engineers, NIPetE, and its Executive Committee, with the theme: “Assets, Talent and Integrity: Engineering Nigeria’s 3 million BPD Target.”

Lokpobiri, who was represented by his Technical Assistant, Business, Kroky Biowe informed that President Bola Tinubu’s administration remained committed to achieving energy sufficiency.

He noted that the administration had taken deliberate steps to expand oil production and develop the infrastructure required to handle increased volumes, harping on the need for good subsurface and surface assets, talent and integrity to achieve the country’s production aspiration.

“I need you to support the Federal Government by sharing your knowledge and wealth of experience to enable us collectively achieve Mr President’s production target of three million bpd by the year 2030. It is possible,” he said.

The Minister informed that the Nigerian Upstream Regulatory Commission, NUPRC, recently concluded a bidding in which 31 companies won 37 oil blocks, saying that the development was part of deliberate efforts by the government to stimulate investment and expand Nigeria’s production base.

He stated that the project has the potential to attract between $15 billion and $21 billion in investment, noting that the project was projected to achieve peak production of about 175,000 barrels of oil per day.

Lokpobiri pleaded with the newly inaugurated Fellows, National Chairman and Executive Committee members of NIPetE to join forces with stakeholders across the oil and gas value chain, as such partnership would provide the technical support required to achieve the Federal Government’s production target.

He noted that the emergence of Dr Yetunde Aladeitan as NIPetE National Chairman is another significant milestone, praising Nigerian women in the oil and gas sector for their contributions to the industry and efforts towards achieving the country’s three million bpd production target by 2030.

The NIPetE National Chairman stated that her administration would reposition NIPetE as a major catalyst for transforming Nigeria’s energy sector, saying that the first six months of her leadership would focus on rebuilding the institution, strengthening relationships with industry stakeholders and laying the foundation for a new era of professionalism and impact.

For the next 18 months, NIPetE would also focus on strengthening stakeholder engagement, advancing policy advocacy, and deepening technical excellence and human capital development.

Aladeitan maintained that NIPetE would intensify engagement with government agencies, regulators and operating companies while establishing a formal framework for quarterly roundtable discussions and joint industry projects.

On policy advocacy, she stated that the institution would establish a policy advisory council to develop white papers on the Petroleum Industry Act, fiscal reforms and value-chain optimisation.

She assured that NIPetE would establish a formal mentorship and internship programme linking young engineers with industry leaders and pursue partnerships to strengthen human capital development.

Aladeitan promised that the institution would scale up its Reservoir Simulation Training and introduce courses in well engineering, production optimisation and digital transformation.

She announced plans for a Diaspora Engineering Initiative to reconnect Nigerian engineers abroad with the domestic industry for knowledge transfer and collaboration, while calling for unity among members.

Deputy President, Nigerian Society of Engineers, NSE, Engr Valerie Agberagba congratulated Aladeitan, pleading with the members to work collectively to advance professionalism and ethical practice.

Agberagba harped on the need for institutional continuity, orderly governance and respect for established procedures, warning that individual interests should not undermine the integrity of professional institutions.

She disclosed that Nigeria had the reserves, technical talent and operational experience required to pursue its oil production ambition, saying that achieving three million bpd would ultimately test governance, professional discipline and the effective deployment, development and retention of engineering talent.

The Caretaker Committee Chairman of NIPetE, Joe Nwakwu noted that the committee had successfully completed its mandate of laying the foundation for the emergence of a properly constituted National Executive Committee.

While congratulating the new leadership, Nwakwu enjoined the executive to place the institution above personal considerations, engage members actively and strengthen NIPetE’s relevance to industry, government, academia and the wider society.