PE Energy Limited, a leading energy services company has unveiled a new technology, Multi-phase Pump and Systems to end gas flaring and boost oil production in Nigeria.
The new technology was unveiled in Lagos at an oil and gas seminar organised by the company in conjunction with ITT Bornemann GmbH under the theme, ‘Eliminating Gas Flaring and Reducing CAPEX in Production Fields; A Sustainable Approach’.
Speaking during an interview with journalists, the Chairman, PANA Holdings/Group Chief Executive Officer, PE Energy Limited, Dr Daere Akobo, noted that the seminar was facilitated to introduce new technology to oil and gas exploration companies that can be deployed to combat carbon and methane emissions, enhance efficiency through increased oil production and meaningfully contribute to the net zero targets.
According to Akobo, the deployment of the new technology in production fields will bring about environmental stewardship, improve the social well-being of the people, and support President Bola Tinubu’s policy of methane emission reduction that would eventually help in reducing the cost of oil production.
He stressed the need for stakeholders to pay urgent and sustained attention to gas flaring, considering the fact that it has become a big environmental hazard.
He saluted the courage of both past and present administrations in developing National Gas Policy 2020 which would help to promote the transition from flaring to annexing the flares but also ensure that flare is commercialised.
The Global Product Manager, Oil & Gas, ITT Bornemann GmbH, Mr Jeroen Olde Monnickhoff, explained that the Multi-phase Pump and System is pivotal in reducing gas routine flaring for the upstream environment and boosting oil production in the field.
Monnickhoff noted that the deployment of the technology would reduce the routine flaring in the field by capturing the gas and boosting it downstream to the production facility, simultaneously reducing air pressure and leading to an increase in oil production.
He disclosed that the technology has been deployed in different markets to deliver projects for oil and gas players globally, charging industry players to subscribe to the technology.
Monnickhoff posited that it is more beneficial than flaring gas given the penalties attached or the health hazard it creates.
