The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Ph.D., has charged petroleum exploration experts and industry stakeholders to intensify efforts towards expanding Nigeria’s hydrocarbon reserves through sustained exploration, technological innovation and increased indigenous participation.
In a statement issued by his Special Adviser on Media and Communications, Nneamaka Okafor, the Minister made the call while delivering his address at the 44th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE), held in Lagos, with the theme, “Unlocking More Barrels: Driving Reserves Growth Through Exploration, Local Capabilities and Adaptive Technology.”
Lokpobiri stressed that increasing production from existing oil fields must be complemented by deliberate efforts to replenish the nation’s hydrocarbon reserves, warning that declining reserves could undermine long-term production capacity, energy security and government revenue.
“The future of Nigeria’s petroleum industry cannot rest solely on maximising production from existing fields. We must continuously replenish our reserves through deliberate, sustained, and commercially viable exploration,” he stated.
The Minister highlighted the significant hydrocarbon potential of Nigeria’s underexplored sedimentary basins, including Anambra, Bida, Sokoto, Chad and Benue, urging increased investment in geological studies, seismic data acquisition and exploratory drilling to unlock their resource potential.
He further emphasised the need to deploy advanced technologies, including artificial intelligence and digital subsurface modelling, to improve exploration efficiency, reduce operational risks and enhance discoveries.
According to him, strengthening indigenous capabilities and promoting technology transfer are equally important to building a resilient petroleum industry capable of competing globally.
The Minister noted that the Federal Government’s ongoing reforms, particularly the implementation of the Petroleum Industry Act (PIA) and targeted fiscal incentives, are designed to improve the investment climate, boost investor confidence and attract fresh capital into the oil and gas sector.
He assured industry stakeholders of the government’s commitment to providing an enabling environment for exploration investments, noting that sustained reserves growth remains essential to safeguarding Nigeria’s energy security, strengthening the economy and securing long-term national prosperity.