Dr. Victor Ekpenyong, MD Kenyon
An oilwell control expert and Chief Executive Officer of Kenyon International, Dr. Victor Ekpenyong, says stakeholders in the oil industry must collaborate to produce more oil and gas, in order for the country to generate more revenue to aid smooth energy transition.
Ekpenyong noted that conversations around climate change and renewable energy were skewed against the Africa, which makes minimal contribution to global warming; and called for a national interest approach in addressing climate change and the geopolitics of energy transition.
Speaking during the 12th Emmanuel Egbogah Legacy Lecture Series at the Emerald Institute of Energy Studies, University of Port Harcourt, Ekpenyong advocated for a gradual switch to renewable energy sources since the country’s carbon emission was negligible.
According to him, Nigeria’s relatively minimal contribution to global carbon emissions should be capitalised on to harness the abundant oil and gas reserves to fund energy transition.
He explained that a recent report on global carbon emission released this September indicated that Africa accounts for just four per cent of global carbon emissions.
“With a strong emphasis on Nigeria’s unique position in the global landscape, there is a need for a nuanced approach to sustainable development. We need to emphasise the importance of evaluating regional realities when addressing climate change issues, highlighting the importance of considering both carbon emission quotas and economic circumstances.
“In stark contrast, major global players such as the United States, China, Russia, and Japan collectively contribute more than 50 per cent of these emissions. Nigeria is not among the top three contributors to carbon emissions on the African continent, trailing behind South Africa, Egypt, and Algeria,” he said.
Ekpenyong urged a strategic approach to managing Nigeria’s energy resources, emphasising the need for resource management, increased production, and resource utilisation.
He also highlighted the necessity of proactive measures to combat pipeline vandalism and oil theft in the oilfields which have long hindered the nation’s development.
“Kenyon International, as a company committed to sustainable energy solutions, is well-prepared to assist Nigeria in optimising its oil production through well remediation and intervention activities.
“Accounting for every drop of oil produced is not only vital for Nigeria’s economic prosperity but also essential for the nation’s sustainable development.
“Kenyon International believes in the call for a comprehensive approach to climate change and energy transition, one that considers regional realities, promotes responsible resource management, and propels Nigeria towards a greener, more sustainable future.”
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