PETAN, Akwa Ibom Partner to Drive Oil, Gas Asset Development
The Petroleum Technology Association of Nigeria (PETAN) has signed a Memorandum of Understanding (MoU) with the Akwa Ibom State Government to promote investment and support the development of oil and gas assets in the state.
The agreement, signed in Uyo, is expected to strengthen collaboration between both parties and create a framework for expanding opportunities across the oil and gas value chain.
Representing the Akwa Ibom State Government at the signing was the Managing Director of the Akwa Ibom Investment Corporation, Imo Abasi Jacob, while PETAN’s delegation included Okey Ukaegbu, and Executive Secretary, Kevin Nwanze.
Speaking on the partnership, PETAN Chairman, Wale Ogunsanya, said the agreement reflects the association’s commitment to advancing Nigeria’s energy sector through collaboration, local capacity development, and strategic investment.
He said, “At PETAN we believe the future of Nigeria’s energy industry will be shaped by strong partnerships, local capacity, and purposeful investment. This MoU with the Akwa Ibom State Government is a major step in that direction.
“It creates a framework for unlocking opportunities in oil and gas asset development, supporting indigenous companies, and delivering long-term economic value for the state and for Nigeria.”
The partnership is expected to create new opportunities for PETAN member companies, encourage infrastructure development, generate employment, and attract deeper investment into Akwa Ibom’s oil and gas sector.
It is also aimed at strengthening the state’s position in Nigeria’s energy landscape by expanding participation in the development of key oil and gas assets.
The agreement comes amid growing calls within the industry for stronger partnerships to unlock the full potential of Nigeria’s hydrocarbon resources, stimulate industrial growth, and deliver sustainable value to host communities and the broader economy.
Both PETAN and the Akwa Ibom State Government expressed optimism that the collaboration would deliver lasting benefits for the state, the energy industry, and the country as a whole.
