Kenyon Develops Homegrown Solution to Check Oil Theft, Vandalism
By Adedapo Adesanya
The Chief Executive Officer and founder of Kenyon International West Africa Ltd, Mr Victor Ekpenyong, says the indigenous oil servicing firm has developed a homegrown solution to oil theft and vandalism that is affecting the nation.
This is as the oil firm has urged the federal government and oil operators to leverage the expertise of Nigerian firms to check oil theft and increase oil production.
Mr Ekpenyong announced that the solution, which the company refers to as Idle Well Management Solution, was currently being deployed in some oil fields and has proved to be cost effective and efficient.
The initiative, according to him, includes the installation of anti-theft devices on well-heads that makes it impossible to steal crude or vandalise.
Mr Ekpenyong said that the package to secure oil installations relies on idle good management practice which helps to monitor idle wells, preventing them from vandalism and theft.
He expressed optimism that if the solution is adopted across all oilfields, oil production will take an upward swing and enable Nigeria to benefit from the rising oil prices.
“Nigeria has the capacity to produce nearly 2.5 million barrels of oil per day, but now, it struggles to produce one million-plus barrel a day.
“Some of the factors that caused the plunge in production are vandalism and oil theft. This has inevitably led to some Nigerian companies shutting down their operations.
“To salvage the situation, the government needs to conduct a situational analysis. From the information we have seen so far, the country previously produced more oil, and we should enquire why our oil-producing capacity is plunging as the days go by.
“Now that oil is above $100 per barrel, we should take advantage of it and maximise our revenue. Our government needs to devise plans on how to safeguard oil and gas assets and conduct community engagement.
“Currently, we have a lot of tech-savvy youths in the country; and in community engagement, citizens can proffer some tech solutions to these problems we face.
“Young people can develop applications that can track vandals. This can be potentially beneficial to both oil companies and the citizens as well,” he said.
The Kenyon boss emphasised that there was a need to raise oil production beyond current levels to take advantage of increased oil prices on the international market, charging the regulatory agencies in the oil and gas sector to ensure that oil companies are following the industry-recommended procedures and best practices.