Wunti Advocates More Investments In Gas Sector To Boost Production, Utilization

The Chief Upstream Investment Officer of the NNPC Upstream Investment Management Services, Mr Bala Wunti has advocated more investments in the gas sector in order to increase gas production and utilization.

Speaking as a panelist at the 11th Practical Nigerian Content Forum holding in Uyo, Wunti stated that natural gas has now grown as a compelling business in the energy sector.

Apary from Wunti, other members of the panel include Mike Sangstar; MD TotalEnergies, Osagie Okunbor; Country Chair SPDC, Cosmos Iwueze; representing MD Chevron Nigeria Limited, and Olalekan Ogunleye; DMD NLNG.

The opening event was attended by Udom Emmanuel, the Executive Governor of Akwa Ibom State, the Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd, Mallam Mele Kyari, Executive Secretary, Nigerian Content Development Monitoring Board, Engr Simbi Wabote, industry regulators, among others.

The conference had as it’s theme, “Deepening Nigerian Content Opportunities in the Decade of Gas”.

He said the natural gas industry value must be treated in line with its commercial merits on an integrated basis.

Wunti stated that the Gas market is still growing, adding that collaboration would be critical to increasing domestic gas utilization.

Speaking further, he argued that the unique nature of gas development, unlike crude oil, requires deliberate planning from the market.

This, he stated, is currently being implemented by the NNPC Ltd through NUIMS and its partners.

Wunti stated further that many key projects are coming on stream with a significant volume of gas.

He expressed optimism that these projects will serve as a game changer in the gas supply capacity of Nigeria.

He listed these projects to include the Bonga North, Bonga South West Aparo, SPDC HA projects, Total Energies Prowei project, ExxonMobil Owowo project Chevron’s Obokun and Agbami gas projects.

Wunti further explained that the NNPC Ltd’s objective through NUIMS transcends beyond producing and exporting gas, adding that the company desires to support the growth of industries that convert gas to secondary and tertiary products such as fertilizer and methanol.

He stated that in the last three months, through robust collaboration with partners, security agencies and community security contractors, the NNPC Ltd has restored an average of about 300,000 barrels per day as well as over 500 mmscfd of gas which had boosted supplies to the Nigeria LNG and the domestic market.

The 11th Annual Practical Nigerian Content Forum was attended by almost 700 industry players across three days of quality discussions, networking, and developing innovative plans to further advance Nigerian content implementation in the Nigerian oil and gas industry.