PETAN identified 53 existing wells and 105 blocked wellheads in Abia

The Petroleum Technology Association of Nigeria (PETAN) has identified 53 existing wells and 105 plugged wellheads in Abia State. This was stated in a statement by the Publicity Secretary, PETAN, Engr. Dr. Innocent Akuvue. He explained that the President of PETAN, Engr. Wole Ogunsanya led a delegation of PETAN EXCO and members on an official visit to the Abia State Governor, Dr. Alex C. Otti, to propose partnership to own and operate upstream assets in the Abia State.

PETAN is an association of indigenous Nigerian technical service companies for the upstream and downstream oil fields. According to the statement, in his presentation to the governor, Ogunsanya proposed a joint venture (JV) model between PETAN and the Abia State government through the identification of good potential upstream assets in the state and with the support from the Nigerian Upstream Petroleum Regulatory Commission. , to secure assets for its marginal fields program, with the deployment of PETAN's capabilities and capabilities to develop assets towards first oil.

He said: “The economic benefits of our value proposition for Abia State include significant internally generated revenue (IGR), direct foreign exchange revenue, tax revenue, job creation and support for the presidential directive to increase oil and gas production in the country. country.

“This will be in addition to the development of local content through the active engagement of a value-generating consortium; actively patronizing existing national entities with capabilities and capabilities to achieve while leveraging the proven experiences of our members with cost-effective management strategies.

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