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The Petroleum Technology Association of Nigeria (PETAN) has discovered 53 operational wells and 105 Capped Wellheads in Abia State, as announced by the Publicity Secretary, PETAN, Engr. Dr. Innocent Akuvue.
The Chairman, Engr. Wole Ogunsanya, along with PETAN EXCO and members, visited the Governor of Abia State, Dr. Alex C. Otti, to propose a partnership for the ownership and operation of upstream assets in the state.
PETAN is an organization of Nigerian Indigenous Technical Oilfield service companies in the upstream and downstream sectors.
According to the statement, Ogunsanya presented a Joint Venture (JV) Model proposal to the Governor, suggesting a collaboration between PETAN and the Abia State Government to identify potential upstream assets in the state.
The proposal also included seeking support from the Nigerian Upstream Petroleum Regulatory Commission to secure the assets under its marginal field scheme, utilizing PETAN’s capabilities to develop assets for oil production.
He emphasized that the proposed partnership would bring economic benefits to Abia State, including increased internally generated revenue (IGR), foreign currency earnings, tax revenue, job creation, and support for the Presidential Directive to boost Oil and Gas Production in the country.
Additionally, the partnership aims to promote local content by engaging a value-delivering consortia and supporting existing in-country entities with the capacity to deliver, while leveraging the expertise of PETAN members with cost-effective management strategies.
