The Nigeria Oil and gas Conference (NOG), Nigeria’s foremost international energy conference, had its 22nd edition of its annual energy week in Abuja on the 9th – 13th July 2023 with the theme Powering the Nigeria’s Sustainable Energy Future at the International Conference center, Abuja Nigeria.
As West Africa’s largest conference seeks to build partnerships for the Nigeria energy sector with participation from presidents, ministers, head of government agencies, and chief executive officers (CEO) discussed policy implementation, project developments, showcase investment opportunities and solutions to current industry challenges including how to decarbonize traditional Oil and Gas Operations. Since 2000, NOG Energy Week has attracted over 100,000 global attendees from over 75 countries with participation from over 50 National and International Oil Companies, in addition to delivering a world-class conference with 1,800 speakers, over 23,000 delegates and 345 sessions.
Speaking at this year’s edition of the NOG Energy Week were Engr. Gbenga Komolafe (Commission Chief Executive, NUPRC), Engr. Farouk Ahmed (Chief Executive Officer, Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), Sen. Margery Okadigbo (Chairman – Board of Directors, NNPC), Malam Mele Kyari (Group Chief Executive Officer, Nigerian National Petroleum Company Limited (NNPCL), Engr. Simbi Wabote (Executive Secretary, Nigerian Content Development & monitoring Board (NCDMB).
Also, speaking was Shubham Chaudhuri (Country Director – Nigeria, World Bank), Richard Kennedy (Chairman & Managing Director, & Chairman, Chevron Nigeria/Mid-Africa Business unit, & OPTS), Osagie Okunbor (Managing Director, The Shell Petroleum Development Company Limited & country Chair Shell Companies in Nigeria), Engr. Emeka Okwuosa (Chairman and GCEO, Oilserv Group), Mike Sangster (Managing Director & Chief Executive, Total Energies EP Nigeria Limited, Philip Mshelbila (Managing Director & Chief Executive Officer, Nigeria LNG), amongst many others.
Oilserv and other sophisticated industry captains discussed the “Investor’s Perspective: Attractiveness of the Energy Sector” in a panel session with CBN, Seplat Energy, NNPC Upstream Investment Management Services, Shell Petroleum Development Company, and Others. Representing Engr. (Dr.) Emeka Okwuosa (CON), was the Managing Director of Frazimex Engineering Limited, Engr. Chuka Eze, who gave remarkable insights on the panel’s topic. He highlighted the importance of attracting investors to the energy sector in Nigeria’s energy transition with emphases on the need for favourable policies, incentives, and regulatory frameworks to create an attractive investment environment, noting that every investor wants to channel money where a timely return on investment is guaranteed. Additionally, he discussed the potential for collaboration between government agencies, industry players, and investors to drive sustainable growth in the sector.
Engr. Chuka accentuated the importance of funding as means of attracting investors to the energy sector, addressing issues regarding creditworthiness, political risk, regulatory confusion between NUPRC and NMDPRA concerning PIA implementation which is negatively impacting investors and industry players, and lack of confidence in the government’s policy implementation. He stressed the need for transparent regulations, stable dispute resolution mechanisms, and a track record of successful policy implementation and the need for clear investment procedures and guidelines to instil confidence and attract both domestic and foreign investors. Nevertheless, he reiterated the crucial role of government performance as the primary foundation for thriving businesses in Nigeria.
Oilserv has experienced exceptional growth over the past 28+ years as an indigenous business, according to Engr. Chuka, who also noted how Oilserv has successfully established itself as a major player in the Oil and Gas sector both domestically and internationally. Mr. Chuka emphasised the Company’s dedication to innovation, quality, and client satisfaction, all of which have contributed to its ongoing success and growth. He emphasised that Oilserv Limited (Oilserv Group) is playing leading role and executing EPCIC projects of oil and gas infrastructure in different regions and terrains across many States in Nigeria including the current AKK Project.
Engr. Chuka Eze concluded by commending NNPC Limited for their substantial support, continuous collaboration, and timely provision of resources and security, which played a crucial role in ensuring the project’s progress and eventual success. Without their assistance, Engr. Chuka Eze acknowledged, it would have been much harder to overcome the challenges faced during the ongoing AKK Gas Pipeline Project.
