. ..why NAICE2024 Focused On Midstream, Downstream Devpt By Salahudeen Tahir
The Society for Petroleum Engineers (SPE) Nigeria, the organisers of Nigeria Annual International Conference & Exhibition (NAICE) 2024, has called on the Federal Government and oil & gas industry operators to strictly implement the recommendations that arose from the industry-wide gathering.
The Chairman, SPE Nigerian Council, Salahudeen Tahir, who made this call at a media parley at the closing of Nigeria Annual International Conference & Exhibition (NAICE) 2024, in Lagos, said the gathering was able to identify the gaps and proffer solutions to energy security in Nigeria, especially as regards the midstream and downstream petroleum sector.
He called on all industry players to adopt innovations and technologies that would guarantee cleaner, cheaper and efficient energy supply to Nigerians.
Tahir said the communiqué would be issued soon alongside five others that have been presented from the conferences in the last five years.
He said the theme of the conference: “Petroleum Industry Value Chain Optimization: The Inevitability of Midstream and Downstream Development,” was chosen because of the importance of the sector to Nigerian economy.
“To ensure sustainability, optimization of the petroleum industry value chain is necessary, and the development of the midstream and downstream sectors plays a significant role in achieving this optimization.
“The midstream sector involves the transportation, storage, and wholesale marketing of crude oil and natural gas, while the downstream sector focuses on refining crude oil into various petroleum products and distributing them to end consumers.
“Without an effective, efficient, and vibrant midstream and downstream sector, investments in the upstream become meaningless. Our God-given natural resources will forever remain in its raw state,” he stated.
Tahir emphasized that the optimization of the midstream and downstream sectors of the petroleum industry value chain is essential for attracting investments to the upstream, achieving operational efficiency across the value chain, and meeting the demands of the market in a cost-effective manner.
“It allows for the smooth flow of resources, maximizes the value of hydrocarbons, and ensures a reliable supply of petroleum products to consumers,” he stated.
Applauding the President of SPE International, Terry Palisch for his physical presence at the conference, Tahir said SPE is the foremost professional association for petroleum industry practitioners worldwide, with over 127,000 members across 145 countries.
In Nigeria, he said SPE’s paid membership is over 15,000 (including student members), spread across five sections (Lagos, Port Harcourt, Warri, Benin, and Abuja) and 47 vibrant student chapters.