From Seyi Tayese, Yenagoa
The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, Ph.D., has called on petroleum exploration experts and industry stakeholders to intensify efforts towards growing Nigeria’s hydrocarbon reserves through sustained exploration, technological innovation and increased indigenous participation.
The Minister made the call while delivering his address at the 44th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE), held in Lagos, with the theme, “Unlocking More Barrels: Driving Reserves Growth Through Exploration, Local Capabilities and Adaptive Technology.”
He stressed that increasing production from existing fields must be matched with deliberate efforts to replenish national reserves, noting that declining reserves threaten long-term production capacity, energy security, and government revenues.
“The future of Nigeria’s petroleum industry can not rest solely on maximising production from existing fields. We must continuously replenish our reserves through deliberate, sustained, and commercially viable exploration,” he stated.
Sen. Lokpobiri highlighted the significant hydrocarbon potential of Nigeria’s underexplored sedimentary basins, including Anambra, Bida, Sokoto, Chad and Benue, urging greater investment in geological studies, seismic data acquisition and exploratory drilling.
He also emphasised the importance of advanced technologies, including artificial intelligence and digital subsurface modelling, alongside stronger local capabilities and technology transfer.
The Minister noted that ongoing Federal Government reforms, including the implementation of the Petroleum Industry Act and targeted fiscal incentives, are aimed at improving the investment climate and attracting capital into the sector.
He assured stakeholders of Government’s commitment to creating an enabling environment for exploration investments, stressing that growing Nigeria’s reserves remains critical to energy security, economic development, and national prosperity.
