The Nigerian Association of Petroleum Explorationist (NAPE) said that it would lead critical conversation on Divestment via a workshop to examine the overall Nigerian oil & gas divestment activities.
This, the group said in a statement to Business Standards is to enable the identification of opportunities for all, including local players, operators, servicing companies and upstream to midstream to downstream infrastructure owners.
Themed ‘The Big Sale: Opportunities in the Nigerian Oil & Gas Industry from Assets Divestments, the workshop is slated for Lagos, Nigeria’s commercial capital.
“In the last 15 years, there have been multiple divestments of oil and gas assets in Nigeria’s onshore and shallow offshore area. And the scale of these divestments is larger and are more frequent. Several conversations and engagements have focused on ‘why divestment?’
“However, there is a need to discuss the possible benefits of divestment to all stakeholders,’ the statement signed by Dr James Edet, and Tunbosun Afolayan, President and Publicity Secretary respdctfully, read.
The Special Guest Presentation will be delivered by Engr. Gbenga Komolafe, Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The list of confirmed Speakers features industry captains, prominent players and critical stakeholders. They include:
Dr. Austin Avuru, FNAPE, Executive Chairman, AA Holdings.; Mr. George Osahon, FNAPE, Chairman Energia; Mr. Chike Nwosu, Chief Executive Office, Waltersmith Petroman Oil limited; Mrs. Ireti Samuel- Ogbu, Managing Director Citibank Nigeria Limited; Dr. Layi Fatona, FNAPE, former Managing Director ND Western; Dr. Ebi Omatsola, Non- Executive Director, Conoil Plc.
“Globally, the oil & gas industry is undergoing an accelerated evolution to respond to the world’s growing demand for cheaper, cleaner, and sustainable energy. Nigeria is not exempt from these substantial considerations; however, the 70-year-old Nigeria oil & gas upstream industry is going through additional significant transformations that are completely changing its business landscape. These transformations are driven primarily by the passing into law of the ‘Petroleum industry Act’, asset divestments and insecurities of critical upstream facilities.
“The workshop gathers critical stakeholders, decision makers and eminent speakers of the Nigerian oil & gas industry to discuss opportunities, barriers, and solutions to challenges to harness the opportunities in the Nigerian oil & gas divestments.
“There are focused presentations to be delivered on the following topics: Divestment opportunities and the challenges of insecurity, crude theft, and asset decommissioning; Funding challenges, divestment strategies and incentives; PIA the new laws and policies; regulator’s role in divestments,” the statement read.
“The event will also feature a moderated 6-man panel session on the main theme of the workshop to discuss along the following themes and considerations:
“Opportunities from divestment for local players, operators, servicing companies and upstream to midstream infrastructure owners.
“Solutions to key barriers, challenges, and issues that prevent access to divestment opportunities. And, Implication of Divestment on National Revenue, Community Engagement and Local content.”