Nigeria’s indigenous oil and gas companies are reopening dormant wells and ramping up production from assets acquired from international oil companies (IOCs) to boost crude oil output.

The Society of Petroleum Engineers (SPE), Nigeria Council, made the assertion through its Chairman, Francis Nwaochie, on the sideline of the Offshore Technology Conference (OTC) which ended at the weekend in Houston, Texas.
Nwaochie said indigenous operators were already taking advantage of opportunities created by disruptions in the global energy market to increase production from existing assets.

According to him, local firms that recently acquired onshore and shallow water assets from IOCs were aggressively reviving inactive wells and maximizing available infrastructure to raise output levels.

“What we are seeing now is that indigenous companies are reopening wells from the assets they acquired from the IOCs. Some of them have almost doubled production from those existing assets,”.

He explained that the renewed focus on dormant wells and existing facilities had become critical at a time the global oil market was facing supply shortages triggered by geopolitical tensions in the Middle East.

The SPE Nigeria Council Chairman noted that Africa, particularly Nigeria, was well positioned to benefit from the supply gap because of the continent’s relative stability compared to some other oil-producing regions.

“There is a huge opportunity for Africa right now. The focus is gradually shifting to Africa because of the volatile environment in many other producing regions.”

He stated that indigenous operators were leveraging digital technologies, financing opportunities and local expertise to improve production efficiency and optimise existing fields.

He added that stronger implementation of local content policies was also helping to create a more stable operating environment for oil and gas investments.

“Local content is very critical. Once communities and local companies clearly understand their roles and benefits, then you create peace across the industry. Business only thrives in peaceful environments.”

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Nwaochie also stressed the need for Nigeria to move beyond crude oil production and begin developing indigenous technologies for the energy industry.

According to him, SPE Nigeria Council was actively supporting innovation and technology development among young Nigerian engineers and researchers.

He disclosed that the association was engaging the National Universities Commission(NUC) on reforms to engineering curricula in universities to better prepare graduates for the future of the energy industry.

“One of our major focuses in SPE is technology development. We should not only import machines and equipment, we must begin to develop our own technologies locally.”

Nwaochie revealed that SPE was already supporting local innovators working on technologies such as remotely operated underwater vehicles (ROVs), noting that indigenous technology development will strengthen Nigeria’s economy and deepen local participation in the oil and gas sector.

“We may not get everything right immediately but we must start somewhere. That is how countries that dominate the global energy industry built their capacities.”

The Oando Foundation has opened applications for the next cohort of its Green Youth Upskilling Programme (GYUP) to empower the next generation of green entrepreneurs.

This follows the successful completion of the inaugural cohort, which trained 25 young Nigerians and awarded N20 million in seed funding to top-performing participants to launch green enterprises, a statement from the company said.

Implemented in partnership with the Nigeria Climate Innovation Centre, the programme is a structured nine-month initiative designed to equip young Nigerians with practical, market-relevant skills across key sectors such as renewable energy, waste management, and sustainable mobility.

“Nigeria’s development trajectory will increasingly depend on how effectively we equip young people with skills that align with emerging sectors. The green economy presents a clear opportunity, but unlocking it requires deliberate investment in talent pipelines like this. Our focus is to scale access and ensure more young Nigerians are positioned to participate meaningfully in this transition,” said Tonia Uduimoh, Head, Oando Foundation.

The programme comes at a time of rising global demand for green skills. The transition to a low-carbon economy is projected to create up to 30 million jobs by 2030, according to the International Energy Agency (IEA), while the World Economic Forum (WEF) identifies green skills among the fastest-growing and most in-demand globally.

Building on the outcomes of the first cohort, the Foundation is expanding the programme to deepen its impact, with additional focus areas including electric vehicle (EV) maintenance and broader opportunities within Nigeria’s growing green economy.

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According to Oando, the recently concluded cohort demonstrated the programme’s end-to-end model, with participants progressing from technical training to hands-on apprenticeship, and top performers accessing catalytic funding and equipment support to scale their business ideas.

Applicants for the new cohort will be selected through a structured, multi-stage process designed to identify individuals who demonstrate strong interest, foundational technical aptitude, and the potential to translate skills into enterprise or employment.

Successful applicants will benefit from intensive technical training, mentorship, practical work experience through internships, and the opportunity to access performance-based funding.

Oando Foundation noted that the programme is positioned not just as a training intervention, but as a pipeline for developing a skilled workforce capable of contributing to Nigeria’s transition to a low-carbon and climate-resilient economy.

Eligible applicants, it said, must be Nigerians between the ages of 18 and 35, with at least a secondary school education and a demonstrated interest in green or technical fields such as renewable energy, waste management, or sustainable mobility.

“The programme is designed for individuals with foundational knowledge or a strong interest in building skills and pursuing opportunities within the green economy. Applications are now open to eligible candidates across Nigeria. Interested applicants can apply via: https://gyup.net/”, it added.