By love-89.com **Oando Plc Commits to Boosting Nigeria’s Crude Oil Production: An Interview with Dr. Ainojie ‘Alex’ Irune**
In a recent interview, Dr. Ainojie ‘Alex’ Irune, Managing Director of Oando Energy Resources Nigeria Limited (OERNL), discussed Oando’s commitment to the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) ambitious goal of increasing the country’s crude oil production by an additional 1 million barrels per day. The pledge comes as part of a broader collaboration during the NUPRC’s third anniversary celebration, which also marked the launch of the ‘Project 1 Million Barrels of Oil Per Day.’
Dr. Irune emphasized the importance of partnerships among industry stakeholders to address the numerous challenges facing the sector. He recognized the pivotal role of regulators like NUPRC and the NNPC in revitalizing the Nigerian energy landscape. “For the first time in our nation’s history, we have witnessed a regulatory body actively promoting business transformation rather than simply enforcing regulations,” he said.
He also highlighted the ambitious goals that the NUPRC has set for the industry, stating, “It is essential for all players to make the necessary business and operational adjustments to achieve these objectives.” Furthermore, he noted the significant changes implemented by the NNPC in decision-making and personnel, which he deemed critical for the success of both the company and the overall sector. “Without such decisive actions, we would likely continue to struggle with the status quo,” Dr. Irune remarked.
When discussing the pathways to achieving the production targets, Dr. Irune stressed that security and vandalism remain significant challenges to operational efficiency. He pointed out that pipeline disruptions are often due to these issues, with vandalism being particularly prevalent. “To produce sustainable results, alignment along the value delivery chain among all key stakeholders is crucial,” he asserted.
Dr. Irune further emphasized the need for a shift in priorities within the industry. “We must place process and production safety above quick wins; otherwise, our goals of producing millions of barrels may be doomed from the start,” he cautioned.
Gbenga Komolafe, Chief Executive of NUPRC, also spoke at the event, reflecting on the commission’s achievements since its establishment under the Petroleum Industry Act (PIA) in 2021. He noted the introduction of critical regulations aimed at enhancing clarity, predictability, and transparency in the industry. “So far, we have developed 25 priority regulations, with 17 already executed, optimizing regulatory processes, and boosting investor confidence,” he shared.
Komolafe encouraged industry stakeholders to collaborate with the government to ensure the industry remains competitive and prosperous. Together, there is hope that with sustained efforts, Nigeria can significantly boost its crude oil production and reclaim its position as a leading oil-producing nation.