Oil sector needs to be innovative to ensure sustainable growth – Kyari

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari on Tuesday urged the industry stakeholders to evolve innovative ways to reposition the sector for sustainability, in the wake of the Covid-19 pandemic

Kyari who spoke at the opening ceremony of the Society of Petroleum Engineers (SPE) Nigeria Energy Industry Transformation Summit (NEITS) 2020, said the industry players needed to train their eyes on a strategy that focuses on people, partnerships, profit and posterity.

In a statement issued by the NNPC’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, Mallam Kyari explained that the new normal era brought about by the Coronavirus pandemic has, more than ever, reinforced the need to upskill the human capacity within the Industry for the next phase, and develop the capacity to attract, train and retain people in the Sector.

He spoke on the theme: “Changing Global Energy Landscape: Repositioning for Industry Sustainability” at the occasion.

He stated: “There must be collaboration across different dimensions; government, Industry, academia and, particularly, with the communities where we carry out our operations. The social license to operate is critical to the Industry’s long term survival. Also, partnership among Industry peers to chart new ways of resolving Industry challenges and preparing for tomorrow cannot be over emphasized. I am delighted the SPE provides such veritable platform”.

He disclosed that for sustainability, Industry players must learn to manage cost, improve efficiency and deliver required cash flow (margins) for reinvestment and expansion, stressing that without creating profit today, “we wouldn’t be in a position to take advantage of the opportunities that keeps us viable and ready for tomorrow”.

Another key to reposition the Industry for sustainability, according to the GMD, is for Industry players to always act and take decisions with posterity in mind.

“We must bequeath to the next generation a world worthy to live in. Our operations must therefore be carried out in a safe manner without adversely impacting the environment. As you know, most discussions around energy substitution or green economy stem from looking at the Industry as ‘dirty’ and ‘unconscionable’. It must be reiterated that our Industry remains the bedrock of modern human existence. We must therefore work to create a positive view if we are to remain relevant in the long run,” he declared.

Earlier in his welcome remark, the Chairman, SPE Nigeria Council, Mr. Joseph Nwakwue, said the society was ready to offer professional services and work with all stakeholders to move the industry forward.

He informed that part of the society was focused on capacity building to develop the required skill set for the oil and industry operations, stressing that it was what informed the choice of the theme of the conference.

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