Mr Wabote, an engineer gave the assessment on Monday while delivering the keynote address at the 3rd Biennial International Conference on Hydrocarbon Science and Technology, organised by the Petroleum Training Institute in Abuja
He suggested that the manifestation of these trends and projections could lead to Nigeria achieving zero crude oil export and becoming a gas-powered economy, which translates to the socio-economic development of the nation. Dwelling on the growth trends in gas, the Executive Secretary stated that Nigeria's proven gas reserves stand at 208.83 TCF, although the nation's gas production had dropped from an average of 4.8billion standard cubic feet per day in 2020 to 4.3bscf/day in 2022.
Delivering his remarks at the event, the Minister of State for Petroleum Resources , Senator Heineken Lokpobiri challenged participants at the conference to develop homegrown solutions to the challenges facing the Nigerian oil and gas industry, some of which are pipeline vandalism and low productivity. He mandated all the agencies in the Ministry of Petroleum Resources to collaborate closely to invent relevant technological solutions needed to address challenges in the industry.
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