‘We Are Ready to Weather Challenges in Upstream Sector’
Emmanuel Addeh in Abuja
One of the leading downstream oil and gas companies in Nigeria, Matrix Energy Exploration and Production Company Limited, has pledged to confront the challenges in the upstream sector as it moves into the new space.
Group Managing Director/Chief Executive Officer, Matrix Energy Group, Abdulkabir Aliu, noted that having operated for years in the downstream side of the Nigerian oil sector, it was time to deploy its enormous talents in the upstream.
The company, along with Emadeb Energy and several other entities were among the about 161 indigenous oil and gas companies awarded oil prospecting licences by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), a day earlier.
While Matrix Energy, along with its partners, were awarded two licences to explore and develop the Atamba oil field located in Oil Mining Lease (OML) 42 and Igbomotoru oil field in OML 33 in the Niger Delta region, Emadeb Energy, a standalone company will explore the Ibom field, PPL 236.
The matrix boss noted that having received the licence, it was ready to replicate its positive performance in the downstream sector of the petroleum industry in its operations upstream.
According to Aliu, the company was determined to do its best to bring value to the assets as soon as possible for the benefit of the industry and country by finding first oil in record time.
He said: “We are aware that the upstream industry is more challenging. But we are also aware that there are a lot of opportunities to contribute to the growth and development of the industry, in particular and the country in general.
“As an oil producing country, it is best for the operators to ensure they take advantage of the current rising price of crude oil at the International market by ensuring the country meets its production quota at all times.
“For us in Matrix Energy Group, we will do our best to ensure we contribute significantly to the national oil and gas output and reserve aspirations as well as the overall betterment of the country.”
