Education
SPE sets agenda for Nigeria’s energy future as NAICE 2026 focuses on growth, investment, resilience – EnviroNews
– Advertisement –
The Society of Petroleum Engineers (SPE) Nigeria Council has declared that collaboration, innovation, and strategic investment will be critical to ensuring Nigeria’s energy sector remains competitive amid a rapidly changing global energy landscape.
Speaking at the pre-event press conference for the 49th Nigeria Annual International Conference and Exhibition (NAICE 2026) in Lagos on Tuesday, July 28, Chairman of the SPE Nigeria Council, Francis Nwaochei, said this year’s conference is designed to provide practical solutions for the industry’s most pressing challenges while positioning Nigeria to capitalize on emerging opportunities.
Scheduled to hold from August 3 to 5, 2026, at the Expo Centre, Eko Hotel & Suites, Victoria Island, Lagos, NAICE 2026 is themed “Thriving in the Evolving Global Energy Landscape: Collaborative Growth and Resilience.”
According to Nwaochei, the theme reflects the profound transformation occurring across the global energy sector, driven by changing investment patterns, rapid technological advancement, geopolitical developments, and increasing emphasis on decarbonisation.
He noted that Africa faces the dual challenge of addressing energy poverty while accelerating industrial development under growing environmental expectations.
“Energy security and environmental sustainability can no longer be treated as separate priorities,” he said. “For Africa, resilience must become an active strategy that brings together regulators, operators, service providers, technology developers, and financiers to unlock investment, lower operational costs, and drive sustainable growth.”
Industry Meets at Critical Turning Point
Nwaochei described the conference as coming at a pivotal moment for Nigeria’s petroleum industry, following the conclusion of the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) 2025 Licensing Round, which awarded 37 oil and gas blocks across mature and frontier basins to 31 preferred bidders.
He commended the Federal Government, the Ministry of Petroleum Resources, and the NUPRC for conducting what he described as a transparent, automated, and market-driven licensing process under the Petroleum Industry Act (PIA).
He said NAICE 2026 would provide the industry’s first major platform to discuss how the newly awarded assets can be rapidly developed into commercially viable production projects.
“Awarding licenses is only the beginning,” he stated. “The real challenge lies in deploying technology, mobilising capital, and applying sound reservoir management to convert exploration assets into producing fields capable of supporting Nigeria’s target of producing three million barrels of oil per day by 2030.”
Indigenous Operators Take Centre Stage
The SPE Chairman observed that the ongoing divestment of onshore assets by International Oil Companies has shifted greater responsibility to indigenous operators, who now account for roughly 60 percent of Nigeria’s oil production.
He said local companies must strengthen operational efficiency, improve financial credibility, manage decommissioning obligations, and optimise production if they are to successfully assume stewardship of these assets.
Nwaochei also highlighted the country’s expanding downstream sector, noting that investments in large private refineries and modular refining facilities are positioning Nigeria as an emerging regional refining hub.
He stressed that achieving long-term energy security would require balancing the enforcement of Domestic Crude Supply Obligations under the Petroleum Industry Act with maintaining market-based returns for upstream producers.
Capital, Infrastructure Security Critical to Production Growth
Addressing Nigeria’s ambition of reaching three million barrels of oil per day by 2030, Nwaochei said the country must move beyond restoring shut-in production to developing new oil and gas projects while expanding offshore infrastructure.
He maintained that Nigeria should prioritise building technical capacity and improving operational efficiency before concerns over OPEC+ production quotas become limiting factors.
He also identified gas commercialisation and condensate production as major opportunities for increasing national revenue since they fall outside OPEC crude production limits.
On financing, he noted that dwindling investments from Western commercial banks due to Environmental, Social and Governance (ESG) policies make African-led financing initiatives increasingly important.
He expressed optimism that the planned launch of the African Energy Bank would strengthen access to capital for energy projects across the continent.
Nwaochei further emphasized that protecting oil and gas infrastructure would require both advanced technology and stronger community participation.
He advocated greater deployment of digital twin technology, fibre-optic pipeline surveillance, automated metering systems, and Artificial Intelligence while urging effective implementation of Host Community Development Trusts established under the Petroleum Industry Act.
More Than 600 Technical Papers, Executive Dialogues
The SPE Chairman announced that NAICE 2026 would feature one of its most comprehensive programmes to date.
The conference will include pre-conference professional training courses, presentation of over 600 peer-reviewed technical papers and electronic posters, executive panel discussions on fiscal policy, investment, local content and resilient energy systems, as well as an international exhibition showcasing cutting-edge energy technologies.
Special workshops will also focus on indigenous operators, young professionals, women leadership, and student development, alongside networking sessions, industry awards, and business engagements.
Advocating a Pragmatic Energy Transition
On the global energy transition, Nwaochei reiterated the SPE Nigeria Council’s position that Africa requires a pragmatic and balanced approach that recognises the continent’s development realities.
He argued that oil and gas would continue to play a central role in Africa’s industrialisation, electricity generation, and economic growth for decades.
However, he stressed that improving carbon competitiveness has become essential for maintaining access to international markets.
He called for greater efforts to eliminate routine gas flaring, reduce methane emissions, electrify remote operations, and leverage natural gas as a transition fuel capable of supporting renewable energy integration.
Nwaochei disclosed that technical recommendations from the conference would be consolidated into an official communiqué to be submitted to government ministries, regulators, and industry operators to support evidence-based policy implementation.
He concluded by inviting investors, policymakers, researchers, operators, service companies, young professionals, and the media to participate in NAICE 2026.
“NAICE 2026 is more than a conference,” he said. “It is a platform to innovate, collaborate, and build an energy industry capable of thriving in a rapidly changing world while delivering measurable progress for Nigeria, Africa, and the global energy community.”
