Blessing Taiwo
Chief Executive Officer of Heirs Energies, Osa Igiehon has commended the launch of the Project 1 Million Barrels of Oil Per Day (1MMBOPD) initiative by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Igiehon spoke during the celebration event of NUPRC’s 3rd anniversary held in Abuja.
He described the journey of the commission as a remarkable one with transformation and innovation for notable improvements in the system.
According to him, there is an overarching focus on risk, when steps should be taken towards growth in the Nigerian oil and gas industry.
He said, “growth has not been on the table in a meaningful way for a very long time. So there’s that mindset.
“I think the first thing to change is our orientation from a risk orientation to a growth orientation. If we have a purpose to grow, we will find solutions to grow and that is what we have done in Heirs Energies.”
The oil magnate called for the use of brownfield excellence approach to unlock value from mature assets.
“We look at three keys, there is the potential, there is the production and there is the sales.
“Between potential and production, is your production system and between production and your evacuation is your pipeline evacuation system,” Igiehon explained.
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