The Federal Government’s plans to leverage its gas resources in the industrialization and economic growth of Nigeria was the subject of the PTDF 2021, Industry Lecture series with the theme “Nigeria’s Decade of Gas – A capability perspective”. The event took place virtually on Thursday, the 11th of March 2021.
Dr. Osteen Oluronsola who delivered the lecture is the Chairman of the Energy Institute (Nigeria) and has in the course of his career, occupied various strategic oil and gas positions both in the private and the public sector.
Speaking during the lecture he noted that the global energy outlook shows a rapid move towards renewables and the covid pandemic is expediting that process.
He stated further that, the increasing importance of gas as a transition fuel in the global energy outlook was due to its efficiency and low carbon emissions when used as a source of energy. According to Dr. Oloronsola, the near limitless uses of gas in power generation, feedstock for major industrial processes, transportation, cooking fuels meant that when properly harnessed gas could drive economic prosperity in Nigeria. This he said was the basis for the declaration of 2021 to 2030 as the decade of gas by the Honourable Minister of State for Petroleum Resources, Chief Timipre Sylva.
Speaking on the untapped gas opportunity Nigeria has, he said the 60 years of oil and gas exploration and production in Nigeria have all been focused on crude oil and all of the 203 Tcf of gas reserves was all accidental finds while drilling for oil.
He said, “ midstream is extensively rich, it is really the platform for industrialization but because the industry has been skewed towards the upstream, there are significant gaps in delivering the midstream and the downstream. The core skill requirements for upstream operations are geosciences and engineering, while the mid and downstream require engineering, commercial, and marketing skills. You will need to do a lot more than the basic skills we are used to.”
He said with the advancement in the operations of the sector, ICT skills, automation, critical thinking were must-have complementary skills that had to be coupled with the needed core skills to be professionally equipped to handle the challenges associated with gas (processing)
Dr. Olorunsola stated further that regardless of having the right policies and legislation in place, it is people that constitute the driving force for the implementation and they need to be fully equipped with the adequate skills to do so thus PTDF has a big role to play to make this happen.
The Executive Secretary thanked him for his brilliant presentation and promised that the Fund will take time to absorb the lessons.