The Department of Petroleum Resources (DPR) has charged stakeholders in the African oil and gas industry to rise to the challenge of harnessing the over 125 billion barrels oil reserve and 625 trillion cubit feet (tcf) of natural gas deposits in Africa for the development of the continent.
The Director of DPR, Mr. Sarki Auwalu, gave the charge while delivering the host-country address at the just concluded fifth edition of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC).
The event held virtually with the theme: “Post COVID-19, from Global Crises to Global Opportunities,” organised by the Petroleum Technology Association of Nigeria (PETAN).
Auwalu stated that Africa must not be cowed to abandon its quest to grow its economies and jettison the development of its resources by the doomsday narrative on the probable end of oil era.
He added that the huge oil and gas resources in Africa must be used to fuel development of the continent the same way other continents utilised dirtier fossil fuels to fuel their economic transformation.
“Indeed, for a better and secured future, Africa must rise to the challenge of harnessing its over 125 Billion Barrels of proven oil reserves and 625 Trillion Cubic Feet of Natural gas for the development of the continent.
“African must not be cowed to abandon its quest to grow its economies by the doomsday narrative of end of oil era and jettison the development of its resources.
“It must be used to fuel development the same way other continents utilised dirtier fossil fuels to fuel their economic transformation,” he said.
To achieve that, according to the DPR director, Africans, “must take our destinies in our hands and join hands across all spectrum – technical, economic, legal commercial, operational, financial, and political to drive regional energy security and economic sustainability.”
