Mr Gabriel Aduda, Permanent Secretary, Ministry of Petroleum Resources, says resilience and sustainability policies are crucial for the long-term success of energy companies operating in Africa.
Aduda said this at the Africa Energy Forum event in Houston, Texas, United States of America. The Africa Energy Forum has the theme; 'Building Resilience in Africa’s Energy Sector in the Era of Energy Transition'.
He said that energy companies that operate on the African continent face a unique set of challenges in the wake of the ongoing transition to a more sustainable and resilient energy system.
According to him, these challenges include meeting growing energy demand, reducing the carbon footprint of their operations, and adapting to the effects of climate change.
Aduda said, “To address these challenges, energy companies are developing resilience and sustainability policies that aim to ensure the long-term viability of their operations.
“While minimizing their impact on the environment. These policies typically focus on several key areas”.
Aduda, who posited that energy companies are increasingly investing in renewable energy sources, such as wind, solar, and hydropower, which help to reduce their reliance on fossil fuels and lower their carbon footprint, argued that many companies were also exploring new technologies such as energy storage and smart grids to optimize the use of renewable energy.
His words: “Energy companies are implementing energy efficiency measures in their operations to reduce their energy consumption and lower their costs.
“This includes measures such as upgrading equipment, improving insulation, and implementing energy management systems. “Energy companies are implementing environmental management systems to reduce the impact of their operations on the environment.
“This includes measures such as waste management, emissions reduction, and biodiversity conservation”. Aduda maintained that energy companies were increasingly recognizing the importance of social responsibility in their operations, adding that the Petroleum Industry Act (PIA 2021) in Nigeria is strong on protecting the environment and partnering with the host communities for sustainability.
He said that the PIA provides clear requirements for working closely with the communities and inclusion in the operations of oil companies. Aduda suggested that energy companies are developing resilience plans to ensure the continuity of their operations in the face of natural disasters and other disruptions.
“This includes measures such as backup power systems, emergency response plans, supply chain diversification and efficiency.
“In addition to these specific policies, energy companies are also working to build partnerships with other stakeholders including governments, NGOs and local communities”, he added.
Aduda explained that to address the unique challenges of the African energy market, the collaborative approach was essential to building a more sustainable and resilient energy system that could support economic growth and development in the region.
“African integration is key at this point and Africa must define its path, draw up its energy transition agenda and must not be forced along with the bandwagon.
“Fossil fuels will still be relevant for decades to come and Africa can only commit to cleaner processes of extraction and production”, he added.
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