Sopuruchi Onwuka

Former President of the Nigerian Association of Petroleum Explorationists (NAPE), Mr JohnBosco Uche, has declared that delivery of Nigeria’s oil and gas production growth is primarily based on exploration capabilities of indigenous operating companies currently taking position in the conventional play of the upstream petroleum industry.

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Mr Uche who spoke to our correspondent at a continental industry summit, the AOW:Energy, in Ghana, made it clear that indigenous players now have greater responsibility in sustaining Nigeria’s oil production growth, insisting that sustainable operations in the industry primarily depends on exploration successes.

The AOW:Energy which made a ground-shaking debut in Ghana in 2025 pooled government and ministerial delegates, multilateral organizations, global environmental advocates, professional leaders, industry regulators, captains of industries and investors to robust debates on best opportunities in building global energy resilience, security and sustainability.

The conference which features major companies from Nigeria is scheduled for a bigger event early September, 2026.

Mr Johnbosco was one of the most prominent Nigerian professional leaders that participated actively at the event, anchoring technical debates and analyzing investment opportunities in emerging frontier basins across the African continent.

Speaking on Nigeria’s reserves growth and production targets, Mr Uche stated that opportunities are still available in the brownfield assets and underexplored terrains of the onshore, swamp and shallow offshore Niger Delta.

Oracle Intelligence reports that the domestic petroleum industry is under government’s mandate to boost production from current downturn of less than 2.0 million barrels per day (mbd) to potential 3.0 mbd in order to close revenue gaps in federal fiscal projections and annual spending budgets.

Federal budgets have remained in deficit in the past 10 years following poor fiscal planning and reckless borrowing, leading to heavy debt burden, foreign exchange squeeze, devaluation of the local currency and unabated inflationary jumps that exacerbate spread of poverty among the citizens.

Mr Uche who is exploration chief at Renaissance Africa Exploration Company (RAEC) said the government’s mandate is achievable, pointing out that Nigerian’s conventional play remains one of the most prolific in the world, with vast untapped reserves that could drive Nigeria back to the top of Africa’s oil production rankings.

He noted that while production had slipped in recent years, it has been steadily recovering since 2022, partly due to the Petroleum Industry Act (PIA) of 2021 and associated executive approvals, which have facilitated capital importation and final investment decisions by companies like Total and Shell.

Uche emphasized that sustaining this growth requires deeper exploration in mature basins, frontier basins like Anambra, Benue, and the Eastern Basin, and deeper intervals in offshore Niger Delta fields.

On the role of indigenous operators, Uche emphasized that divestments and asset transfers from international oil companies (IOCs) to local firms are proving successful. He cited examples such as SEPLAT’s takeover of ExxonMobil’s assets and Renaissance’s acquisition of SPDC fields, which have led to increased production.

He attributed these gains to the local companies’ understanding of the terrain, lower operating costs, and strong technical capacity.

“The indigenous Nigerian players are driving the growth, not the majors,” Uche said, stressing the need for robust corporate governance to sustain investor confidence.

Uche also addressed frontier exploration, noting that private investment remains essential to exploration. He stressed that risk-reward incentives are critical to attracting capital to new areas, where success rates may initially be low but can rise significantly after discoveries.

Regarding deepwater exploration, Uche called for better seismic data, technological support, and collaborative development models among operators to reduce costs and maximize efficiency. He said government incentives are helpful but additional measures could further unlock deepwater potential.

Uche concluded by outlining NAPE’s ongoing efforts to support frontier exploration, including proposals for workshops in partnership with NNPC to improve subsurface expertise.

He highlighted the involvement of about 60 Nigerian universities affiliated with NAPE, emphasizing the association’s commitment to capacity building and promoting technical excellence in exploration and production across the country.