- Ado Oseragbaje has advocated adopting Environmental, Social and Governance (ESG) practices.
- The CEO reaffirmed his belief in Nigeria’s prime position in the global energy landscape.
Ado Oseragbaje, the Chief Executive Officer of Heritage Energy Operational Services Limited, has advocated for the adoption of Environmental, Social, and Governance (ESG) practices to ensure the sustainability of the oil and gas industry in Nigeria.
The CEO, who was represented by Reverend Sola Adebawo, General Manager, Government, Joint Venture and External Relations, gave the charge on August 5 while speaking on a topical issue workshop titled: “The outlook of the Nigerian oil and gas industry, Post IOC Divestment and Exits: Challenges and Opportunities,” at the Nigeria Annual International Conference and Exhibition (NAICE) organised by the Society of Petroleum Engineers (Nigeria Council).
Oseragbaje said, “It has become imperative for oil companies to comply with environmental, social, and governance (ESG) factors and adopt sustainability as a default way of operating to explore and produce hydrocarbon in Nigeria.”
The CEO reiterated his company’s commitment to ESG practices, noting, “We are committed to operating in an environmentally responsible, socially inclusive, and ethically sound manner.
He said, “Our ESG Charter outlines our core principles and approach to environmental, social and governance matters and serves as a foundation for our ESG strategy and our guide to operating responsibly and sustainably.”
The CEO reaffirmed his belief in Nigeria’s prime position in the global energy landscape, saying that if some of the over 200 TCF of gas were sustainably produced, it would help Nigeria through the clean energy transition and enable her to fill the gap left by declining oil.
He noted that gas will play a huge role in the future and at Heritage Energy. He added, “Indeed, ESG is the way to go. Nigeria has committed to net zero by 2060 and, along with several other African countries, has also committed to restricting methane emissions, halting and reversing forest loss, phasing out coal, and ending international financing for fossil fuels.
He said that any company that does not make ESG factors intrinsic to its operations will not be able to survive the legislation put in place by the government in line with its climate change commitments.
Furthermore, he stated, “ESG is all about sustainability, and the United Nations has defined it as development that “meets the needs of the present without compromising the ability of future generations to meet their own needs.”