As Nigeria forges ahead on its journey toward economic diversification and sustainable development, the oil, gas, and energy sectors play a crucial role. Unlocking the full potential of these industries requires prioritizing key initiatives to attract investments, enhance security, increase production, and improve domestic gas utilization. NOG Energy Week 2024, West Africa’s premier energy conference and exhibition, held at the International Conference Center in Abuja, provided a vital platform to explore and evaluate these opportunities.
Dedicated to the gas sector, the conference focused on three main areas: showcasing opportunities in the domestic gas market, driving investments in upstream gas production, and meeting energy demands through Nigeria’s gas infrastructure.
The event kicked off with the Nigerian Content Seminar, featuring senior industry leaders and representatives from NCDMB, AfCFTA, NMDPRA, NNPC Limited, Nigeria LNG Limited, Nigeria Liquefied Petroleum Gas Association, Oilserv Limited, FrazEnergy Limited, UTM FLNG Limited, MGVowgas, TotalEnergies EP Nigeria, Westfield Energy Resources Limited, Nestoil Limited, and other notable companies.
In his opening remarks at the Nigerian Content Seminar, Engr. Felix Ogbe, Executive Secretary of NCDMB, highlighted the significance of President Bola Tinubu’s directive on Local Content compliance. He emphasized that the new policy would significantly impact Nigeria’s oil and gas industry, stimulate the economy, and attract further investments.
Engr. Ogbe outlined NCDMB’s five focal areas: promoting in-country capacities, enhancing cost competitiveness of oil and gas projects, excluding intermediary entities lacking essential capacity from the Nigerian Content Plan (NCP), approving contractors who meet Nigerian company legal definitions and demonstrate project execution capacity, and prohibiting entities acting solely as intermediaries without demonstrable capacity to execute projects.
He assured that NCDMB’s commitment to fostering a business-friendly environment would attract more investors to the sector. The Board is dedicated to implementing the Presidential Policy Directive, designed to boost competitiveness, mitigate risks of approving unqualified contractors, improve approval timelines, and create an enabling business environment in Nigeria’s oil and gas industry.
In the fourth panel discussion, titled: “Exploration of Local Capacity: Maximizing Regional Opportunities,” Engr. (Dr.) Emeka Okwuosa CON, Chairman/GCEO of Oilserv Group, represented by Mr. Nadeem Hashmi, Group Executive of Energy & New Business Development, discussed how employing advanced technologies like HDD, HTB, and modern welding processes could enable Oilserv Nigeria to export its pipeline engineering and construction expertise to regional markets, including Sub-Saharan Africa. This development may contribute to the region’s economic growth and create much-needed job opportunities, in addition to helping emerging nations fulfil their rising need for energy infrastructure. He also noted that Oilserv Nigeria’s experience in implementing sustainable practices can contribute to environmentally friendly development projects in these markets.
Mr. Nadeem highlighted that FrazEnergy Limited, an Oilserv group company, can offer its expertise of power-as-a-service (PAAS), and gas flare utilisation projects to clients in the region by utilising customised technologies and international alliances (Galileo Technologies) to produce fuels that are cleaner. This approach not only helps reduce greenhouse gas emissions but also contributes to sustainable development goals by providing cleaner energy solutions. By leveraging their expertise and partnerships, FrazEnergy exports will create a more efficient energy solution in the region.
Regarding asset integrity management and cleaner/renewable energy solutions, Mr. Nadeem explained that Nigerian companies can export their knowledge of cleaner energy alternatives, such as methanol and propane, to neighbouring markets. Oilserv Nigeria could provide asset integrity management services using cutting-edge non-destructive testing and corrosion prevention technologies. Nadeem also discussed Nigerian companies’ contributions to geophysical and geological services, such as seismic surveys and reservoir modelling, and energy storage solutions like lithium-ion batteries and power management systems. These efforts would enhance the growth of Nigeria’s energy sector and solidify the country’s reputation as a hub for innovative energy solutions in the region. He emphasized the importance of continued investment in research and development to remain competitive.
In his final submission, Mr. Nadeem noted that the Presidential Directive’s alignment with the 10-Year Strategic Roadmap aims to increase Nigerian content to 70% by 2027, which will foster economic development and national energy sustainability. As such he restated that FrazEnergy Limited and Oilserv Nigeria are well-positioned to capitalize on regional opportunities, leveraging their expertise and technological capabilities to advance the oil and gas sector in Nigeria and beyond. He stressed the necessity of collaboration and innovation to achieve these ambitious goals, highlighting the importance of strategic alliances and funding for R&D. Together, these businesses can significantly impact the transformation of the energy sector by pursuing a shared vision.
