WorldStage— Seplat Energy Plc has called for accelerated oil and gas exploration, increased investment in indigenous capabilities, technology deployment and interconnected energy infrastructure to unlock Nigeria’s hydrocarbon potential and strengthen national energy security.
The company’s Chief Executive Officer, Engr. Effiong Okon, made the call while delivering keynote addresses at the 44th Nigerian Association of Petroleum Explorationists (NAPE) Annual International Conference and Exhibition 2026 in Lagos.
Speaking on the opening day under the theme, “Unlocking More Barrels: Driving Reserves Growth Through Exploration, Local Capabilities and Adaptive Technology,” Okon said Nigeria must accelerate the conversion of its substantial hydrocarbon resources and reserves into actual production.
He said although Nigeria has a significant resource base and strategic position in global energy supply, the country must bridge the gap between available reserves and barrels delivered to the market.
“Nigeria is better placed than most. We have a significant resource base and a strategic position in global energy supply. However, a reserve is a promise. A barrel delivered is a result. Our task is to close the distance between the two, and to do it faster,” he said.
Okon identified exploration, indigenous capabilities and adaptive technology as critical drivers of reserves and production growth, stressing that improved seismic imaging, disciplined appraisal and digital technologies would reduce subsurface uncertainties and accelerate investment decisions.
Highlighting Seplat Energy’s operational performance, he disclosed that the company had restored 90 idle offshore wells in less than 24 months, with 41 wells restored in 2026 alone, adding gross production capacity of approximately 33,700 barrels of oil and 176 million standard cubic feet of gas per day.
He also cited the company’s application of machine learning in subsurface evaluation and development planning, alongside appraisal programmes at Amukpe and Okporhuru, as examples of how technology and existing infrastructure could accelerate the commercialisation of hydrocarbon resources.
Addressing energy security on the second day of the conference, Okon said increased production must be supported by a resilient and interconnected energy value chain encompassing upstream operations, pipelines, gas processing, refining, petrochemicals, power generation and transmission.
In his keynote titled, “Energy Security in an Era of Global Disruption: Positioning Nigeria for Resilience, Competitiveness, and Prosperity,” he said a stable policy environment was equally necessary to attract long-term investments.
“Disruption raises the value of dependable supply, and Nigeria is building the capacity to provide it: first for Nigerians, and then for the world,” he said.
According to him, renewed investments across the upstream, gas, midstream, refining and power sectors present an opportunity to improve domestic energy supply and strengthen Nigeria’s competitiveness in the global energy market.
However, he cautioned that individual projects and investment announcements would not automatically translate into energy security unless the different segments of the value chain were effectively connected.
He identified connection, consistency and Nigerian delivery as three priorities for translating investments into sustainable energy security.
“Every project is only as valuable as its link to the next point in the chain: well to plant, plant to pipeline, pipeline to power station, and power station to customer,” he said.
Citing Seplat Energy’s ANOH Gas Plant, he said the company’s achievement of first commercial gas through the OB3 pipeline in September demonstrated the importance of connecting indigenous investments to strategic national infrastructure.
The Seplat CEO also emphasised the need for regulatory and policy consistency, noting that investors are more likely to commit capital to jurisdictions where regulations are predictable and projects can progress from investment decisions to execution within clearly defined timelines.
He called for greater participation of Nigerian companies, investors, professionals and contractors in the development of the country’s energy resources to ensure that sectoral expansion generates more domestic economic value.
Okon maintained that Nigeria’s ambition should extend beyond increasing oil and gas production to ensuring that energy availability drives industrialisation, employment and broader economic development.
“The objective was never security alone. Energy security is the means. Prosperity is the end: power for homes and factories, feedstock for fertiliser and petrochemicals, jobs, and revenue that stays at home,” he said.
He further described natural gas as central to Nigeria’s development, particularly in supporting electricity generation, industrial activities and the country’s ambition to become a dependable energy supplier.
“The stronger our own system, the more we can contribute to the world’s energy security. National and global energy security are one project,” he added.
Reaffirming Seplat Energy’s commitment to Nigeria’s energy transition and economic development, Okon urged industry stakeholders to prioritise execution, collaboration and speed in delivering critical energy projects.
“A resource in the ground creates potential, but only energy delivered creates prosperity. Our task is to find more, decide faster and deliver sooner,” he said.
