06/02/2025
In collaboration with ITT Bornemann, we hosted a strategic seminar on Eliminating Flaring and Reducing CAPEX in Production Fields with emphases on the Multiphase Pumps at Eko Hotels & Suites
The seminar was well attended by stakeholders from the Oil and Gas industry, as well as the German Embassy. This gathering underscored the importance of collective action in achieving Nigeria's climate goals.
Daere Akobo Chairman and Group CEO of PANA Holdings emphasized the urgency for all industry players to take collective responsibility in achieving these climate goals: "Balancing economic interests while preserving the environment for future generations is our moral responsibility as a responsible global citizen. By adopting cutting-edge flare gas recovery and utilization technologies, we can turn environmental challenges into economic opportunities, ensuring Nigeria’s compliance with global best practices while fostering sustainable industrial growth."
Dr. Akobo also reaffirmed PANA Holdings commitment to supporting Nigeria’s effort to eliminate routine gas flaring and reduce methane emissions, in alignment with global climate commitments and regulatory frameworks.
At COP28 in the UAE, His Excellency President Bola Ahmed Tinubu underscored Nigeria’s determination to tackle methane emissions, a potent greenhouse gas that constitutes 75–85% of flare gas and has catastrophic effects on the environment, human health, and biodiversity. Nigeria’s pledge aligns with the Global Methane Pledge, the Paris Agreement, and the United Nations Sustainable Development Goals (SDGs), reinforcing its commitment to Net Zero ambitions and compliance with emerging global and African regulatory standards.
Nigeria’s oil and gas industry faces increasing pressure from global regulatory bodies, including the EU’s Carbon Border Adjustment Mechanism (CBAM) and stringent ESG (Environmental, Social, and Governance) reporting frameworks from international financial institutions. By proactively adopting methane reduction strategies, PE Energy and PANA Holdings are positioning Nigeria as a responsible energy leader on the global stage.
