NAPE President Urges Fresh Exploration Investments to Unlock Nigeria’s Oil Reserves
Ajayi made the call while delivering her opening remarks at the 44th Annual International Conference and Exhibition of NAPE in Lagos, where she challenged industry stakeholders to prioritise exploration as a strategic response to declining production from mature oil fields and the depletion of existing reserves.
Speaking on the conference theme, “Unlocking More Barrels: Driving Reserves Growth Through Exploration, Local Capabilities and Adaptive Technology,” she said Nigeria’s future oil production would depend largely on the industry’s ability to discover, appraise and develop undiscovered and underdeveloped resources.
She challenged participants to consider where the country’s next barrels of oil would come from, stressing that unlocking its hydrocarbon potential requires a combination of geological understanding, investment, technology and determination.
According to her, while mature basins still offer significant opportunities, frontier and underexplored basins require deeper geological understanding and the willingness of investors to take calculated risks.
The NAPE president said exploration practices must also evolve in response to technological advancements, citing advanced seismic imaging, basin modelling, artificial intelligence, machine learning and digital workflows as tools that could improve subsurface understanding.
However, she cautioned that technology alone cannot replace professional expertise and geological judgement, noting that successful exploration depends on combining innovative tools with sound technical knowledge.
Ajayi also called for increased investment in Nigerian professionals, indigenous companies, research institutions and knowledge development to enable local players to undertake more complex technical, operational and commercial assignments.
She emphasised the need for stronger collaboration among industry operators, government, academia and professional associations to drive exploration and reserves growth.
Reaffirming NAPE’s commitment to developing the next generation of exploration professionals, Ajayi highlighted the association’s NAPE Academy as an initiative designed to equip young professionals with the knowledge, skills and confidence required to lead the industry.
She urged international partners to consider Nigeria an investment destination where lasting industrial and technical capacities could be developed alongside its hydrocarbon resources.
Ajayi subsequently welcomed delegates and participants to the five-day conference, reaffirming NAPE’s commitment to advancing exploration, reserves growth and the development of Nigeria’s petroleum industry.
