Timipre Sylva said the whole world should support a campaign to expand the production of natural gas in Africa, which he described as green energy and the only way to increase electricity production.Sylva said energy transition push must consider the development needs of developing countries, especially those with huge hydrocarbon resources.
Sylva pointed out that natural gas ticked all the boxes as the vehicle to help government achieve its aspirations and that is why it embraced the resource to help turn around the economy by declaring year 2021-2030 as Nigeria’s decade of gas. OPEC’s Barkindo described the oil and gas industry as “under siege”, saying there were more than 700 lawsuits against oil companies worldwide.
She insisted that the impact of climate change was visible for everyone to see around the world, noting that the US would continue to support poor countries to transit seamlessly into cleaner energy. Beginning in 2010 and led by SPDC, IOCs operating in Nigeria have divested 26 assets. Seplat took OML 4, 38 and 41 off Shell in 2010 for a reported $340m.
Experts have described it as an unprecedented move by the local firm, which has continued to expand to new frontiers of operations since its inception over a decade ago. Chief executive of NUPRC, Gbenga Komolafe, made this known while speaking at the ongoing NIES in Abuja.