PETAN to partner Abia Government on Upstream Assets in the State.

Fred Shaka-Braimah

The Petroleum Technology Association of Nigeria, PETAN, is seeking partnership with the Abia State Government, under a joint venture model, to operate some potential upstream marginal fields in the state.

PETAN’s Chairman, Engr. Wole Ogunsanya, made the proposal when he led his Executive team on a courtesy visit to Governor Alex Utti in Umuahia, Abia State.

Engr. Ogunsanya, who highlighted some of the benefits of such partnership, informed the Governor that PETAN had already identified 53 existing Wells fields and 105 Capped Wellheads within Abia State for exploration.

“The economic benefits of our value proposition to Abia State, Your Excellency”, he said, “include major internally generated revenue (IGR), direct foreign currency earnings accruals, tax accruals, employment generation, and support of the Presidential Directive of increasing Oil and Gas Production in the country.

“This will be in addition to developing local content through the active engagement of a value-delivering consortia; actively patronizing existing in-country entities with capacities and capabilities to deliver whilst leveraging on the proven experiences of our members with cost- effective management strategies”, he added.

Responding, Governor Otti, who welcomed the proposal, urged his Commissioner for Petroleum and Mineral Resources to ensure that maximum support was accorded PETAN on all that was needed to actualize the partnership and promised to also liaise with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for support.

The PETAN team, comprised the Chairman, Engr. Wole Ogunsanya, the CEO, Geoplex Drillteq Ltd; Engr. Innocent Akuvue, Publicity Secretary, PETAN, and CEO, GGI International Ltd.;  Engr. Ibe Chubby Ibe, Conference Chairman, PETAN, and CEO, Poseidon Energy Services Ltd.; Sir. Okezie Akwiwu, Treasurer, PETAN, and CEO, Hyprops Nigeria Ltd.; Dr. Okey Ukaegbu, Assistant Secretary, PETAN, and CEO, Catobi Nigeria Enterprises Ltd.

Others were Mr. Stanley Egege, Member, PETAN, and CEO, CE-Stalong Ltd., and Engr. Kevin Nwanze, Executive Secretary, PETAN.