The Nigerian oil and gas company is making strides towards developing the country’s energy resources with the aim of ushering in a new era of sustainable economic growth in West Africa.
Nigeria is maximizing the development of its over 37 billion barrels of crude oil and 200 trillion cubic feet of natural gas reserves under efforts to kickstart sustainable development. In a pivotal stride towards bolstering Nigeria’s energy security and fostering economic growth, indigenous oil and gas companies like Platform Petroleum have become key players in the country’s energy renaissance. Platform Petroleum is committed to driving the West African country’s energy revitalization and the African Energy Chamber (AEC) – the voice of the African energy sector – is proud to announce that the company has joined the African Energy Week (AEW) 2023 conference as a Gold Sponsor.
Taking place from October 16-20 in Cape Town, AEW 2023 represents the premier energy event for the African energy sector, and during the event, Platform Petroleum will participate in high-level panel discussions, showcasing the company’s contribution to Nigeria’s energy renaissance while promoting investment and partnership opportunities in the country. The company will also sponsor Invest in Nigeria Energies, a session dedicated to exploring the growing investment opportunities in one of Africa’s largest energy markets.
As a prominent indigenous oil and gas company in Nigeria, Platform Petroleum plays a pivotal role in advancing the development of Nigerian hydrocarbons in line with the government’s mission to optimize the exploration, development, and profitability of the nation’s resources. Platform Petroleum operates the Egbaoma field in OML 38, boasting over 100 billion cubic feet of gas reserves and substantial oil resources, contributing significantly to Nigeria’s competitiveness as a producer. Since securing the tender to operate the marginal field in 2004, Platform Petroleum (with its joint venture partner, Newcross Petroleum Limited) has spearheaded field exploration and development, Production optimisation, and acceleration of infrastructure rollout.
The company has drilled nine wells in the field, showcasing its dedication to expanding Nigeria’s oil and gas reserves. The company takes pride in managing extensive infrastructure tailored to maximise field exploitation, including 40,000-barrel storage tanks, oil and gas transportation lines, 30 million cubic feet per day processing plant, and advanced gas compression systems installed in 2020 to enhance gas recovery efficiency. Crucially, Platform Petroleum aligns with Nigeria’s efforts to decarbonise energy operations. By implementing various strategies and infrastructures to reduce flared gas, the company actively contributes to the federal government’s zero-flaring initiative by achieving 99.5% utilisation/commercialisation of the produced gas in the field.
As Nigeria aims for a just and inclusive energy transition while meeting its socio-economic development targets, Platform Petroleum stands poised to significantly impact the nation’s economy. Through its operations, the company not only advances the energy sector but also creates local employment opportunities, fosters technological advancements, and fuels the expansion of Nigeria’s economy through oil and gas monetisation. With a focus on seeking fresh investments and cutting-edge technologies to amplify its operations within the marginal field while expanding influence in Nigeria’s thriving oil and gas sector, Platform Petroleum’s participation at AEW 2023 and sponsorship of the Invest in Nigeria Energies session offers unparalleled opportunities for networking with global investors and key players in the oil and gas industry.
“Platform Petroleum has positioned itself as a key contributor to Nigeria’s energy sector expansion, driving local employment creation, technological advancement, and economy on the back of oil and gas monetization. With Nigeria making strides towards driving a just and inclusive energy transition, the operations of Platform Petroleum will contribute significantly to this objective while advancing socioeconomic progress,” stated NJ Ayuk, the Executive Chairman of the AEC.
AEW is the AEC’s interactive exhibition and networking event, uniting African energy stakeholders, driving industry growth and development, and promoting Africa as the destination for African-focused events. For more information about sponsorship, attendance, and partnership opportunities, visit www.aecweek.com.