Stakeholders to discuss depleting oil reserves at SPE conference

Stakeholders in the Nigerian oil and gas industry are set to discuss the challenges of depleting crude oil reserves which has fallen to about 36 billion barrels.

There have been calls for the Federal Government to ensure enabling framework that will encourage more investment in exploration activities in the sector.

Addressing journalists on the forthcoming Annual Conference by Society of Petroleum Engineers (SPE), the President of SPE Nigeria Council, Mr George Kalu, stated that after 40 years of existence, the SPE Nigeria Council has focused on what the future of the Nigeria’s sector would be in 2017.

“We have decided to focus on discussing the challenges of the oil and gas sector and recommend, via a communique, to the government for implementation. We are not a profit making organisation and we don’t influence policy, but suggest ways on the way forward.

“In fact,  SPE Nigeria Council was established over 40 years ago. Since then we have been delivering on our mission to support the development of technical manpower for the industry, provide catalyst and support indigenous participation in the Nigerian oil and gas industry, while encouraging best practices amongst the producing companies.

“We have engaged and partnered with government, oil and gas producing and service companies on initiatives geared towards addressing pertinent strategic issues. This strategic focus has helped us to provide input to major Nigeria oil and gas policies. Key among these policies are on gas flare, marginal field development, and Nigerian content, among others.

“Our success has a lot to do with your sustained support and participation in our flagship programs; the Oloibiri Lecture Series & Energy Forum (OLEF), Student Technical Conference, Young Professionals Workshop and the Nigeria Annual International Conference & Exhibition (NAICE),” he said.