Petroleum Training Institute (PTI) in Abuja yesterday said Africa’s estimated 125 billion barrels of crude oil reserves risked being stranded if the continent failed to pursue sustainable and technology-driven exploration that aligned with global environmental standards.
Speaking at a world press conference ahead of the 4th Biennial International Conference on Hydrocarbon Science and Technology (ICHST 2025), PTI Principal and Chief Executive, Dr Samuel Onoji, said the continent must balance its vast hydrocarbon potential with realities of the global energy transition.
The conference, scheduled to hold from tomorrow, is themed: “Transforming Africa’s Hydrocarbon Sector: Balancing Growth, Environment and Governance.”
Coming at a time when investment remained low and cost of oil production has been high in Nigeria and other African countries, Onoji noted that the conference would gather leading voices from government, academia, and industry to discuss the future of oil and gas in a decarbonising world.
Onoji noted that while the global focus was shifting towards renewable and cleaner energy, fossil fuels would continue to play a key role in Africa’s economic development for decades.
He said the continent must therefore deepen research and technological innovation to ensure cleaner and more efficient exploitation of its hydrocarbon resources.