The Independent Petroleum Producers Group (IPPG) has said the tangible effects of the PIA implementation, conclusion of this IOC divestment phase and the emerging dominance of the indigenous players across onshore and shallow water space; implementation of the decade of gas policy; and the expected deregulation of the downstream sector would all jointly set the tone and direction for Nigeria’s oil and gas industry in the years to come.
It has therefore reiterated its commitment to play important role going forward as is best placed to ensure the optimal development of Nigeria’s hydrocarbon resources.
According to the chairman of the group, Abdulrazaq Isa, its members have demonstrated financial and technical capability to develop the country’s hydrocarbon resources, with proven appetite for supporting the government’s energy security vision through building a broader value-adding midstream and downstream businesses.
The chairman who was speaking during the Group’s 2022 Annual Dinner which was held recently in Lagos, said the Nigerian oil and gas industry had evolved over the last two years with the enactment of the Petroleum Industry Act (PIA), large divestment announcements by the international oil companies (IOCs) and Nigeria’s commitment to 2060 net-zero aspirations.
The group through its chairman pledged to continue to partner with relevant industry stakeholders towards the growth and development of the Nigerian oil and gas industry.
He also commended the two industry regulators, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), for their diligent implementation of the PIA and their adopted approach of engaging all stakeholders in this regards.
He said It has become imperative that the group’s advocacy effort in 2023 should be focused on creating collective support and deliberate collaboration with the Government, Industry Regulators and Nigerian Financial institutions, working in concert, to optimise the numerous growth opportunities available across the industry.
He further stated that the group’s priority as an industry, in the short to medium term, must be to rapidly exploit “our hydrocarbon assets for the socio-economic transformation of our country.”
“The year 2023 promises to be a very important year for our industry; not only will our dear country be witnessing a political transition come May 2023, but we shall begin to see numerous changes across the entire oil and gas value chain”, he said.
IPPG he said will continue to work closely with the Government to achieve all its aspirations for the industry which is primarily centred on energy availability, affordability and security for all Nigerians now and in the coming years.
IPPG Reiterates Commitment To Ensure Nigeria Achieve Optimal Development In Its hydrocarbon Resource
The Independent Petroleum Producers Group (IPPG) has said the tangible effects of the PIA implementation, conclusion of this IOC divestment phase and the emerging dominance of the indigenous players across onshore and shallow water space; implementation of the decade of gas policy; and the expected deregulation of the downstream sector would all jointly set the tone and direction for Nigeria’s oil and gas industry in the years to come.
It has therefore reiterated its commitment to play important role going forward as is best placed to ensure the optimal development of Nigeria’s hydrocarbon resources.
According to the chairman of the group, Abdulrazaq Isa, its members have demonstrated financial and technical capability to develop the country’s hydrocarbon resources, with proven appetite for supporting the government’s energy security vision through building a broader value-adding midstream and downstream businesses.
The chairman who was speaking during the Group’s 2022 Annual Dinner which was held recently in Lagos, said the Nigerian oil and gas industry had evolved over the last two years with the enactment of the Petroleum Industry Act (PIA), large divestment announcements by the international oil companies (IOCs) and Nigeria’s commitment to 2060 net-zero aspirations.
The group through its chairman pledged to continue to partner with relevant industry stakeholders towards the growth and development of the Nigerian oil and gas industry.
He also commended the two industry regulators, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), for their diligent implementation of the PIA and their adopted approach of engaging all stakeholders in this regards.
He said It has become imperative that the group’s advocacy effort in 2023 should be focused on creating collective support and deliberate collaboration with the Government, Industry Regulators and Nigerian Financial institutions, working in concert, to optimise the numerous growth opportunities available across the industry.
He further stated that the group’s priority as an industry, in the short to medium term, must be to rapidly exploit “our hydrocarbon assets for the socio-economic transformation of our country.”
“The year 2023 promises to be a very important year for our industry; not only will our dear country be witnessing a political transition come May 2023, but we shall begin to see numerous changes across the entire oil and gas value chain”, he said.
IPPG he said will continue to work closely with the Government to achieve all its aspirations for the industry which is primarily centred on energy availability, affordability and security for all Nigerians now and in the coming years.
