Executive Summary.

By definition, hydrocarbon metering or measurement is the phase along the hydrocarbon supply value chain where Exploration and Production (E&P) efforts are turned into value for operators, investors, and other relevant stakeholders. Hydrocarbon metering is carried out using specialized and high-precision equipment to ensure consistent accuracy. Regular calibration of flow meters and secondary measurement devices used in custody transfer metering is standard practice in the petroleum industry to minimize losses caused by measurement errors.

The role of hydrocarbon metering in the oil and gas business cannot be over-emphasized, as it informs operators of the actual production rates and allows reservoir engineers to predict well depletion and better control for long-term production rates. Metering provides the data needed for proper hydrocarbon accounting and petroleum revenue quantification.

The recent challenges with crude oil theft and the confusion it poses to hydrocarbon accounting and revenue resilience are topical. In addition, the urgency, as well as the uncertainty around the decarbonization of the energy mix, will require accuracy, accountability, and transparency in all that we do in the petroleum sector.

The above, together with advances in research and development within the measurement, metering, and hydrocarbon accounting domain, were discussed in detail at the 2nd Nigeria Hydrocarbon Measurement Conference (NiIHMEC), which was held in Abuja, Nigeria, September 13-14, 2022, under the theme “Hydrocarbon Measurement for Decarbonized Oil and Gas Operations”.

The key takeaways from NIHMEC 2022 are as follows:

1. There is a need to continuously address and proffer solutions to the ever-evolving hydrocarbon measurement and accounting challenges in the oil and gas industry.
2. Transparency in Nigeria's petroleum industry begins with accurate production measurement, reporting, and hydrocarbon accounting.
3. The integrity of the measurement equipment must periodically be verified against known standards to enhance their field performance.
4. Decarbonization of oil and gas operations requires investment in measurement technology for adequate measurements of all greenhouse gas emissions. It is only based on accurate emission data that appropriate intervention can be implemented to achieve Nigeria's net-zero emission target by 2060.