PTI Cautions Africa on Abandoning 125bb Crude Oil Reserves
The Petroleum Training Institute (PTI) Effurun has warned Africa not to abandon its 125 billion barrels crude oil reserves and 600 Trillion Cubic Feet (TCF) in a hurry.
According to the Principal and Chief Executive Officer, Dr. Samuel Onoji, the continent should rather work harder on researches that will lead to the development of local technologies for the exploitation of crude oil in a sustainable way.
His words: “With an estimated 125 billion barrels of crude oil reserves and over 600tcf of natural gas reserves in Africa, it is our considered opinion that Africa should not hasten to abandon fossil fuel but should strive to deepen research and development of local technologies that enable the exploitation and utilization of our oil and gas endowment in a more environmentally friendly manner as the reality of global demand for fossil fuel is expected to linger for the next 50 years.”
Onoji spoke at a world press conference on the 4th Biannual International Conference on Hydrocarbon Science and Technology (I CHAT) in Abuja.
He claimed PTI is reducing the carbon footprint in different ways, despite the fact that net zero emission as mirage.
According to him, emission of carbon is always reduced in the production of natural gas with a paltry 7 per cent flared.
He added that the Research and Development Directorate of the PTI is also developing a technology to assist in the reduction of carbon emission.
He said one of the measures for de-carbornisation of the hydrocarbon is through the Carbon Credit Mechanism that the institute is adopting.
Onoji said: “When you are talking about emissions, you are talking about natural gas. Of course, we you produce oil, you also produce natural gas.
“And part of this natural gas is used in the field, part of it is refined in the Liquefied natural gas. So, it has actually reduced to about less than 7% of natural gas being flared.
“Of course, in the research and development directorate of the Petroleum Training Institute is also developing technology that will help to reduce this emission.
“And one of that ways is the carbon credit mechanism that we are also putting in place.”
SOURCE: The Nation