Nigeria's Energy Leaders Seek Funding, Infrastructure for Oil, Gas Growth

Energy leaders in Nigeria have called for improved funding access, gas infrastructure, and an enabling environment to unlock the country's oil and gas production growth. The call was made at the Nigeria Energy Leaders Summit 2026, where operators, service companies, and lawyers agreed that capital, pipelines, and credibility are now more critical than geology.

The chairman of Petroleum Technology Association of Nigeria (PETAN) and CEO of Geoplex Drillteq, Mr. Wole Ogunsanya, said funding is the biggest constraint facing new indigenous producers who acquired assets from International Oil Companies. He noted that companies like Seplat, which acquired ExxonMobil's shallow water assets producing over 300,000 barrels per day, are challenged to finance growth.

Ogunsanya also highlighted the need for more rigs in the swamp, shallow water, and deepwater areas, where at least three major IOC projects led by Esso, TotalEnergies, and Chevron are starting before year-end. He urged the government to incentivize non-associated gas drilling and mandate gas volumes per barrel of oil.