- By Nwafor Elizabeth, Yenagoa
Nigeria’s Ministry of Petroleum Resources has reaffirmed its commitment to exploring new areas with high oil potential, utilizing the Frontier Exploration Fund established under the Petroleum Industry Act (PIA).
This development comes as the Ministry welcomes international cooperation, particularly with Kazakhstan, to drive growth and sustainable development in the petroleum industry.
Recently, Senator Heineken Lokpobiri, Minister of State for Petroleum Resources, received the Deputy Minister of Foreign Affairs of the Republic of Kazakhstan, Mr. Kuantyrov Alibek, and his team.
The Kazakh delegation expressed interest in partnering with Nigeria in oil exploration and refining. This collaboration aligns with Nigeria’s goals of adopting advanced technologies to ensure cleaner and greener exploration activities and enhancing downstream operations.
Senator Lokpobiri emphasized Nigeria’s readiness to engage in technology exchange and resource sharing with prospective investors.
Such partnerships, according to him are crucial for actualizing the country’s transformative agenda and ensuring the sustainable development of its petroleum industry.
This development underscores Nigeria’s efforts to strengthen its energy sector, as highlighted during Senator Lokpobiri’s recent meeting with Bayelsa State Governor, Senator Douye Diri, where he expressed the Federal Government’s pledge to resolve ownership disputes around oil fields, including the Atala Oil Field.
