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By Adewale Sanyaolu
The Petroleum Technology Association of Nigeria (PETAN) has expressed its willingness to partner the Abia State Government to own and operate the State’s upstream assets.
PETAN Chairman, Mr. Wole Ogunsanya, disclosed this when he led a delegation of PETAN Executive members on an official visit to the Abia State Governor, Mr. Alex Otti.
In his presentation to the Governor, Ogunsanya proposed a Joint Venture (JV) model between PETAN and the Abia State Government through the identification of potential upstream assets in the state.
He added that with NUPRC’s support, PETAN would secure the assets under its marginal field scheme, deploying capacities and capabilities to develop assets the up to the point of striking first oil.
He added that PETAN has identified 53 existing Wells in these fields and 105 Capped Wellheads within Abia State.
“The economic benefits of our value proposition to Abia State include driving up internally generated revenue (IGR),direct foreign currency earnings accruals, tax accruals, employment generation, and support of the Presidential Directive on increasing oil and gas Production in the country.
“This will be in addition to developing local content through the active engagement of a value-delivering consortia; actively patronizing existing in-country entities with capacities and capabilities to deliver whilst leveraging on the proven experiences of our members with cost- effective management strategies,” he added.
Responding, Otti welcomed the proposal, charging his Commissioner for Petroleum and Mineral Resources to ensure that maximum support is accorded PETAN on all that was needed to be done to actualise it and promised to also liaise with NUPRC to lend its support.
Others on the PETAN team included; CEO, Geoplex Drillteq Limited, Mr. Innocent Akuvue, Publicity Secretary, PETAN, and CEO, GGI International (Nigeria) Limited ; Mr. Ibe Chubby Ibe, Conference Chairman, PETAN, and CEO, Poseidon Energy Services Ltd.; Mr Okezie Akwiwu , Treasurer, PETAN, and CEO, Hyprops Nigeria Limited ; Mr. Okey Ukaegbu , Assistant Secretary, PETAN, and CEO, Catobi Nigeria Enterprises Limited.
