The Nigerian National Petroleum Corporation , yesterday, declared that there was the need for oil and gas operators to decarbonise to improve the country’s footprint in the sector and capture a substantial part of the $277 billion global carbon market.
Wunti, who spoke yesterday, at the Nigeria International Petroleum Summit in Abuja, noted that oil and gas projects should consider opportunities for reduced emission to enable the country to earn positive credit.“Through our partnership with Total Nigeria, we marketed our credit position and monetised it and we have realised €1 million so far.
He disclosed that Group Managing Director of NNPC had directed NAPIMS to do whatever it could with its partners to ensure monetisation of the credit position for the benefit of the country. On the industry’s outlook, Wunti raised concern over insecurity and its impact on the sector, adding that the Petroleum Industry Bill was critical to success.
Deputy Managing Director, Deep Water, Total Nigeria, Victor Bamidele, noted while assets in the sector have a life span, deriving maximum value from them would prevent wastage.