Rareview EnergyDesk
The Society of Petroleum Engineers Nigeria Council has unveiled plans for the 2026 edition of the Oloibiri Lecture Series and Energy Forum, a flagship gathering that will bring together industry leaders, policymakers and investors to chart a strategy for increasing Nigeria’s crude oil production beyond three million barrels per day.
The event, scheduled for April 9, 2026, will be held at the Petroleum Technology Development Fund Tower in Abuja and is expected to attract regulators, operators, financial institutions, and energy professionals from across the country.
Speaking at a press conference in Lagos, Chairman of the SPE Nigeria Council, Francis Nwaochei, said the country must adopt new production models driven by technology, disciplined investment, and supportive policy frameworks if it is to unlock its full hydrocarbon potential.
“Nigeria can reach and surpass three million barrels per day, but the era of easy production is over,” Nwaochei said.
“Progress will depend on innovation, digitalisation, efficient capital deployment, and a regulatory environment that supports intelligent operations and asset optimisation.”
The 2026 forum is themed “Beyond the Three Million Barrels Target: Harmonising Digitalisation, Capital and Policy Frameworks for Intelligent Operations and Asset Optimisation.” Organisers say discussions will focus on aligning technology, financing and regulatory policy to drive higher productivity across Nigeria’s oil and gas sector.
Nigeria, Africa’s largest crude oil producer, has struggled in recent years to reach its production potential due to challenges ranging from pipeline vandalism and underinvestment to aging infrastructure and operational inefficiencies.
Industry data indicate that although output has improved following reforms and security interventions, production still remains below the country’s capacity, with implications for government revenue, foreign exchange earnings and investor confidence.
Nwaochei said restoring higher production levels is essential not only for fiscal stability but also for strengthening domestic refining capacity and supporting the expansion of gas development projects aimed at powering industries and homes.
“Higher production will strengthen Nigeria’s economic resilience, support refining growth, and reinforce the country’s role as a reliable global energy supplier,” he said.
Participants at the forum are expected to examine strategies for optimising existing oil fields through improved reservoir management, digital monitoring technologies, and the revitalisation of idle wells. Discussions will also explore new field development opportunities and ways to strengthen indigenous operators.
Analysts say local oil companies, which have acquired several onshore and shallow-water assets divested by international oil companies in recent years, will require stronger access to financing, advanced technologies and strategic partnerships to fully realise the potential of these assets.
Industry stakeholders believe that improving operational efficiency through digital tools—such as real-time production monitoring, predictive maintenance and data-driven reservoir modeling—could significantly increase recovery rates and reduce production losses.
The Oloibiri Lecture Series and Energy Forum was established to commemorate Nigeria’s first commercial oil discovery in Oloibiri in 1956, an event that marked the beginning of the country’s modern petroleum industry.
Over the years, the forum has evolved into one of the country’s most influential platforms for policy dialogue and thought leadership in the energy sector.
Organisers say the 2026 edition is designed as a “working forum” focused on producing practical recommendations that could inform regulatory reforms, guide investment decisions and shape Nigeria’s long-term energy planning.
With global energy markets undergoing rapid transformation and competition among oil-producing nations intensifying, industry leaders believe that Nigeria must move swiftly to modernise operations, attract capital and strengthen regulatory certainty.
The outcome of the Abuja discussions, stakeholders say, could play a crucial role in determining whether Africa’s largest oil producer can reclaim higher production levels and position itself more competitively in the evolving global energy landscape.