Gbite Falade, MD/CEO of Aradel Holdings Plc
…Harmonization of digitization, policy and capital will progress the industry forward
-Felix Douglas
The MD/CEO of Aradel Holdings Plc, Gbite Falade was speaking at a panel session during the Society of Petroleum Engineers (SPE) OLEF 2026 that the company’s national aspiration is to attain 2 million barrels next year (2027).
This will be followed with 3 million barrels in 2030 because the number of barrels alone does not build sustainable value.
Falade was of the view that what is probably important is how those barrels are produced at what cost with what data integrity under what sort of fiscal framework with environmental footprints.
The Aradel CEO said there are three key things that should be fundamentally in place concerning the issue of capital location with digitalization.
If the country is serious about the target of 3 million barrels, it must build digital infrastructure that makes each one of those barrels intelligent.
The second aspect to give attention to is construction of capital location because that’s the fuel that powers the engine.
The third aspect is policy frameworks which is the architecture that builds every other thing together.
The Aradel CEO appreciated the enactment of the Petroleum Industry Act (PIA) but it is not enough.
Policies must evolve to support digitization and capital mobilization agenda in every facet.
What keeps everything together is how it is harmonized. Digitization without capital produces pilot projects that never scale.
The country has impressive dashboards but no production data.
Capital without digitization produces investments that underperform and wells drilled without adequate subsurface data, facilities built without predictive maintenance capability.
Assets are acquired without infrastructure to optimize them.
Digitization and capital without a supportive policy framework will only produce frustrated operators
He said companies with tools and funding contract with new regulatory frameworks have bottlenecks. This is the dysfunctionality that should be dealt with in order to be able to properly dimension the issue of capital mobilization.
There will be progress if these three things are harmonized together with regards to digitization, policy and capital.
Aradel target is 3 million barrels.
“The ambition must not just be only 3 million barrels. It must be 3 million intelligent, optimized, transparently produced and sustainably financed barrels. That’s our ambition as Aradel.”
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