The Petroleum Technology Development Fund (PTDF) has commenced a quarterly lecture series to increase its engagements with oil and gas industry stakeholders and keep staff abreast on issues and new developments in the oil industry in Nigeria.

Mr Egbert Imomoh, a retired and well respected Nigerian oil and gas industry expert who served as Deputy Managing Director of  Shell Petroleum development Company, (SPDC) delivered the maiden lecture entitled “Nigerian Oil and gas Industry: the Quo Vadis” at the PTDF House, Abuja.

The lecture is the first in the series and is organized by the Nigerian content and industry collaboration department of the Fund.

At the lecture, Mr Imomoh reviewed the history of oil exploration in Nigeria, the significant developments of the early 70’s, innovations and evolving energy scene, technological advancement, future growth and challenges.

On energy outlook, he said that renewable energy (wind and solar, geothermal, biomass and bio fuels) will be the world’s fastest growing energy source, increasing on an average of 2.3% per year between 2015 to 2040. However fossil fuel remains dominant and will contribute up to 77% of energy consumption by 2040. He added that natural gas is the growing fossil fuel, growing an average of 1.4% per annum.  “Whilst we seek to diversify Nigeria’s economy, we must continue to attract new local and international investors, new players, apply new techniques and continue to grow intellectual industrial capacity”.

He recommended that a system be put in place where bid rounds are carried out every two years to ensure that the nation’s resource base is developed, to attract investors, technology and increased production.

Executive Secretary,  PTDF, Dr Bello Aliyu Gusau thanked Mr Imomoh for making out time to honour PTDF’s invitation and described him as one of the indigenous pacesetters that heralded the growth and development of the oil and gas industry in Nigeria.  PTDF as part of its strategic policy to relate more with active players in the industry will continue to engage and tap from the experiences of industry experts in order to increase its visibility and linkages with the oil and gas industry, He said.

“I must say that, in the last one year, PTDF’s engagement with the industry and its relationship in creating linkages with other players in the industry has taken a dramatic turn and we will have to continue in this way”.

Manager, Nigerian content and industry collaboration unit, Mr Usman Pindar said, the lecture series is part of the “learning and growth process” aimed at upscaling the knowledge base of staff on current events in the oil and gas industry by bringing people with vast industry exposure to share their knowledge and experiences about the industry. “In the last two (2) years, PTDF has undertaken an internal review of its institutional interventions. Part of the review entails looking at the way things are done, measuring the impact, monitoring the effect and gauging the value as far as the oil and gas industry is concerned. Part of the findings of such a review is the fact that, we need to build the capacity of our own staff and colleagues within the institution. Part of the responsibility given to the Nigerian Content and industry collaboration, which is actually a reflection of the third vision in the department, is the fact that we need to bring PTDF to the industry, improve and increase its relevance to the operation of the oil and gas industry but also bring the industry to the PTDF. In which case, the PTDF itself benefits from the operation and the knowledge base of the industry”.