The challenges faced by the oil and gas industry in Nigeria has necessitated a need for the industry players to optimize their performance in their operations especially as the industry like every other sector has felt the impact of the Covid-19 pandemic. This gave rise to the theme of this year’s Annual Oil and Gas Oloibiri Lecture Series and Energy Forum tagged “Operational Excellence and portfolio Optimization; Way forward for the Oil and Gas Industry post-Covid 19”.

The Lecture being hosted annually by the Petroleum Technology Development Fund (PTDF), in commemoration of the discovery of the first oil well in Nigeria and as part of PTDF strategic partnership with practitioners in the oil and gas industry, provides a platform for oil and gas professionals to deliberate on current global realities in the industry.

Dr. Bello Aliyu Gusau, Executive Secretary, PTDF, in his remark said the theme of this year’s lecture is not only apt but crucial to the realization of the government’s planned transition to attain a stable business environment and create a vibrant low-carbon economy in a post-Covid-19 oil and gas industry.

The Executive Secretary who was represented by the General Manager, Strategic Planning and Documentation, (SP&D) of the Fund, Mr. Jide Adebulehin, observed that this year’s OLEF seeks to address issues of climate change, digital transformation, cost reduction, and public health which are key enablers to achieving operational excellence and business portfolio optimization in the oil and gas industry.

He said PTDF as an agency of government that is at the forefront of developing Nigerian human capacities, capabilities, and competencies for the oil and gas industry is also rising to the occasion by engaging in relevant partnerships aimed at conforming to the ever-changing demand and supply dynamics in the industry post-Covid-19.

I would like to reassure you of PTDF’s unalloyed commitment to providing the required support as it relates to building human capacities for the petroleum industry as it has done in the past.  No doubt the impact of the Covid-19 has been unfavorable to our operations but to suit this present-day reality, the Fund is currently in collaboration with some institutions in Nigeria and abroad to upscale and redesign its Overseas Scholarship to cover more courses on renewable energy and to make learning easier”.

The Executive Secretary promised to sustain the Fund’s engagement with various stakeholders such as the Society of Petroleum Engineers (SPE) and emphasized that this can best be enhanced through regular information sharing on the evolving human capital needs of the energy industry, to enable the Fund to tailor its interventions to suit specific industry requirements.

In his remark, the Convener of the event and Chairman of SPE Nigeria Council, Mr. Olatunji Akinwunmi said,  it’s the first time the council is conducting a hybrid event of both virtual and limited in-person participation due to the restrictions that have been imposed by the pandemic and hoped that with the kind of participants and oil and gas industry stakeholders that deliberated around the theme of this year’s lecture, the resolutions coming from it will stimulate further growth and development within the industry.

The lecture on “Operational Excellence and Portfolio Optimization” was delivered by the Country Chair Shell and MD, SPDC, Mr.Osagie Okunbor followed by keynote addresses on “Industry Regulation and Achieving Operational Excellence” and “Deriving Optimal Value from Oil and Gas asset Post Covid-19” delivered by the Director, Department of Petroleum Resources (DPR), Engineer Auwalu Sarki and the Group Managing Director, NNPC, Mr. Mele Kyari respectively.

The Executive Secretary, PTDF, Dr. Bello Aliyu Gusau led the panel of discussants on “Industry-Government-Academia Partnership”. The panel included the GM, JV Operations (NAPIMS), Mrs. Martina Atuchi. MD, Seplat, Mr. Roger Brown. ED, Total E&P, Mrs Tai Oshisanya. Chief Technology Officer, Huawei, Mr. Wang Hao and MD, Aiteo E&P Limited, Mr. Victor Okoronkwo, among others.