Petroleum Producers Want Oil and Gas Asset Security

The Independent Petroleum Producers Group (IPPG) congratulated the federal government last month on the passage of the Petroleum Industry Bill (PIB). The group also asked the federal government for help in protecting oil and gas facilities, particularly in the Southeast.

In a delegation to Vice President (VP) Yemi Osinbajo led by its Chairman, Abdulrazaq Isa, the group congratulated the FG on the enactment of the PIA, hoping that the uncertainty issues and under-investment in the industry that have plagued the industry in recent years would be resolved. IPPG also praised the Vice President’s 2016 Niger Delta peace efforts. The IPPG Chairman stated that Osinbajo has been a strong supporter of the organization, adding that “your intervention assisted in resolving the security situation that we faced in the Niger Delta region in 2016.” According to Isa, the rate of crude theft is unprecedented and becoming unsustainable, particularly on the eastern axis.

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While seeking the federal government’s assistance in securing investments in the sector, Isa emphasized the significance of gas in the emerging global energy landscape, stating that “gas should be considered as a transition fuel with deliberate policies formulated to attract investment into the sector.”

Isa reaffirmed the group’s commitment to working collaboratively with the federal government, saying, “IPPG remains committed to working collaboratively with Government in realising its aspiration for the sector.”

In his response, the Vice President assured the group of the Buhari administration’s commitment to the security of lives and property, noting that the government is open to suggestions that would result in a permanent resolution of the issue.

He congratulated the Group and assured them that the government is ready to support their growth and development as key stakeholders in the industry. Osinbajo also urged the Federal Government and other oil and gas stakeholders to work together to advocate for a just and balanced energy transition agenda.

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Abdulrazaq Isa led the delegation to the Vice President, which included the Group’s immediate past Chairman, Ademola Adeyemi-Bero, Chief Executive Officer, FIRST Exploration and Petroleum Development Company Limited; Charles Odita, Director, Midwestern Oil and Gas Nigeria Limited; Roger Brown, Chief Executive Officer, Seplat Energy PLC; and Oyeleke Banmeke, Executive Coordinator, IPPG Secretariat.

IPPG is an association of indigenous upstream Exploration and Production companies in Nigeria that constructively engages government and other industry stakeholders on issues affecting the industry in order to achieve a sustainable petroleum industry and maximize its contribution to Nigeria’s socioeconomic development.