PETAN seeks partnership with Aradel to boost oil production

Oritsegbubemi Omatseyin

Lagos — The Petroleum Technology Association of Nigeria, PETAN, has sought the partnership of Aradel Plc to improve Nigeria’s oil production and bridge the gap between its producing and selling costs.

A delegation of PETAN, led by the Chairman, Engr. Wole Ogunsanya, paid a courtesy visit to the Chief Executive Officer of Aradel Plc, Mr. Adegbite Falade in Lagos.

The courtesy visit was aimed at sharing thoughts on practices and trends in the industry and the way forward, as well as to formally seek the support of Aradel Holdings towards the 30th anniversary celebration of the Association, and deepening partnership with PETAN-member companies in service delivery.

Engr. Ogunsanya stated that PETAN members with decades of experience in the industry, have all the equipment required to boost oil production in the country.

Recognising the need for concerted efforts to revamp the economy through increased oil production, Engr. Ogunsanya pledged PETAN’s all-encompassing and overreaching capacity which its members have garnered over the decades on the local content journey to ramp up oil and gas production for the country at reduced costs of drilling and production.

He said: “Nigeria’s cost of production compared to many countries is too high and at PETAN, we feel that we have the responsibility to bridge the gap of cost production and cost of sales through collaboration with the government, the regulators and producers like you.

“In the next few years, nearly 70% of onshore assets will be owned by Nigerians, and PETAN has the strategy to maximize the footprints from these assets through a well-articulated partnership model that integrates funding strategies and cost-saving technologies and know-how.”

He added that PETAN would like to have an MOU with Aradel in order to pursue and realise the partnership.

Finally, he stressed the need for all stakeholders to work towards eliminating the existence and impact of portfolio companies in the industry. He ended his remarks by informing the management of Aradel that PETAN would be 30 within the year, while soliciting the support of Aradel to host the event.

The PETAN delegation was warmly received by the Managing Director/CEO of Aradel Plc, Mr. Adegbite Falade, in company of some members of the Board and management of Aradel, including the Independent non-executive Director former of Aradel, Ms. Patricia Simon-Hart.

Responding to PETAN’s submissions, Mr. Falade expressed delight that PETAN remains a dependable partner in the oil and gas industry, noting that it was gratifying to hear the aspirations of PETAN, which aligns with the Federal Government’s vision, and by extension, other operating companies in the industry, including Aradel.

He said: “From our humble beginnings, we have progressed to greater levels in oil and gas production and processing than earlier anticipated. With a good number of divestments that are about to be concluded, presenting opportunities in the industry and to be run by Nigerians for Nigerians, there is a greater need for synergy between the new operators, including Aradel and PETAN as technical oilfield services providers.”

Continuing, he assured that Aradel is committed to deepening the existing working relationship with PETAN members in providing critical services to the organisation.

He congratulated and thanked the newly elected executives of the Association who have renewed advocacy around helping Nigeria recover from recurrent losses on oil production levels and revenues, and for offering their services and expertise as experienced professionals in any capacity across the value chain of the oil and gas industry.

The PETAN delegation was made up of the PETAN Chairman and CEO, Geoplex Drillteq Limited, Engr. Wole Ogunsanya; the PETAN Financial Secretary and CEO, Richardson Oil and Gas, Mr. Akin Osuntoki; PETAN Ex-officio and Principal Consultant, Lonadek Global Services, Dr. Ibilola Amao; PETAN Publicity Secretary and CEO, GGI International (Nigeria) Ltd, Dr. Innocent Akuvue; past Chairman and CEO, CB Geophysical Solutions Ltd and Vhelbherg Limited, Engr. Bank Anthony Okoroafor; PETAN member and CEO of Tecon Oil NigerBlossom, Engr. Casmir Maduafokwa.

Other members in attendance were Dr. John Erinne, CEO, Matrix Petro-Chem; Dr. Steve Ayiyi, CEO, Steve Integrated Technical Services Limited; Mr. Kayode Adelaja, CEO, Kay-Global Limited; Mr. Chika Ikenga, CEO, Eunisell Limited; Mr. Chris Ijeli, MD of Dorman Long Engineering Limited; Barr. Micheal Imonite, Director, Port Operations and Legal, Catobi Nigeria Enterprises Limited and PETAN’s Executive Secretary, Engr. Kevin Nwanze.