Operators in the upstream sector need to develop Nigeria-specific programs to address the challenge of emissions in the march towards energy transition, Henry Menkiti, Chief Operating Officer, Asharami Energy has said.
Speaking at the Society of Petroleum Engineers (SPE) International Conference and Exhibition, Menkiti said the nation has to establish a progressive strategy that guides the mining of hydrocarbons more responsibly.
“We must keep doing what we try to do best; produce hydrocarbons as we transition, and at the same time, be aware of the dangers directly related to emissions,” he said.
Menkiti said as the upstream division of energy conglomerate, Sahara Group, Asharami Energy is committed to aligning its operations to processes that promote environmental sustainability.
“Ultimately, addressing emission cutting requires the collective effort of all stakeholders in the upstream sector and we believe the SPE can play a critical role in driving the conversation. Sahara is happy to play a lead role in this regard,” he added.
Urging the SPE to “evangelize local technical breakthroughs” in the sector, Menkiti said this would help address the criticality of fast-tracking knowledge sharing, capacity building and efficient operations.
According to him, the sector needs to highlight the positive engagements between the Community, Government, Operator and Service companies to enhance the sustainability of the ecosystem.
He noted that internal and foreign investors read and benchmark the health of the ecosystem against their Risk Portfolios when making critical decisions.
“Sahara’s positive multi-stakeholder approach represents an example – a role model where collaboration works; enhancing value across-the-board for all stakeholders. Where this is not at play, it runs the risk of stagnating operations, having lifting costs running sky-high and making such ventures difficult to sustain,” he asserted.