MD Counsels Oil Firms On Productivity

Executive of Total E and P, Mr. Nicholas Terez, has called on operators in the petroleum sector to look for innovative ways to increase their efficiency despite the challenges facing the oil sector.

Terez made this statement while presenting his goodwill message at the 13th anniversary and induction of the Institute of Petroleum Studies (IPS), at the University of Port Harcourt last Tuesday.

He reiterated Total’s commitment to the Institute of Petroleum Studies in UNIPORT, despite the current economic challenges facing the country.

“We all know that oil prices have crashed and it is a difficult time for the industry.

“Service companies are suffering, and a lot of qualified people are leaving the industry”, he said.

According to him, now is the right time to invest again and take advantage of new local investments in the sector.

Terez further noted that the demand for oil and gas was on the rise on the world stage.

“It means that in the future we will need more oil and gas to “fuel our world and our economy”.

Also speaking at the event, Vice Chancellor of the University of Port Harcourt, Prof. Ndowa Lale charged the newly inducted engineer to make a difference in the oil and gas industry.”

“The pioneer set of IPS students occupies very sensitive position in the critical and uncommon industry in the various parts of the world.

“As we induct the 13th batch of 53 Master of Science degree graduates in petroleum engineering and product development and the 8th batch of 18 graduates in Post Graduate Diploma in Petroleum Technology, we expect even greater professional commitment.

“We expect you to be worthy ambassadors of the institute and the University of Port Harcourt, and we look forward to your exploits in the industry”, he said.

Some of the inducted students spoke on their experience during their one year programme in the institute.