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WPC: Nigeria to woo investors in gas value chain

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BY Jospeh BAMIDELE

ABUJA – The Federal Government’s policy initiatives and incentives to encourage investment in the country’s entire value chain of the gas industry will be enunciated at this year’s World Petroleum Congress in Moscow, Russia tagged “Responsibly Energising a Growing World”

Nigeria Minister of Petroleum Resources and leader of the Nigerian delegation, Mrs. Diezani Alison-Madueke will present the Nigerian paper at the conference.

Nigeria will be participating under the theme “Harnessing Nigeria’s Gas Resources for Sustainable National and Regional Development” in its exhibition and country presentation.

The exhibition, which is being arranged jointly by the Nigerian oil and gas industry, will highlight the nation’s gas potentials, achievements, current activities and plans in the upstream, midstream and downstream sub sectors of the gas industry.

The Congress in Moscow‎ according to the Manager, Public Affairs Department, National Petroleum Investment Management Services, NAPIMS, Dr. Kennie Obateru said is expected to attract 5,000 delegates, 600 speakers and over 500 Ministers and CEOs from around the world who will come together to discuss and exchange ideas on how to ensure that the petroleum industry continues to galvanize world development and growth in a responsible way.

“Highlights of the Congress will include the Opening Ceremony at the Kremlin Palace and the Russian Night in Gorky Park, together with regular features such as the Global Business Opportunities Centre with country stands from the 70 WPC member countries, the interactive digital Poster Plaza, the Global Village showcasing social responsibility projects, the Youth Lounge with a full engagement programme and many more.

“Established over 75 years ago, the World Petroleum Council continues to grow with new member countries. There are at the moment, over 60 member countries representing over 95% of the World’s major oil & gas producing and consuming countries.

“Nigeria joined in 1973 and has attended all the congresses since, the last three being in Doha in 2011, Spain in 2008 and South Africa in 2005 which Nigeria co-hosted,” he said.
from the 15th to the 18th of June, 2014, Nigeria, led by the Honourable Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, joins the world at Moscow, Russia to participate in the 21st World Petroleum Congress.

Hosted every three years by a member country, the World Petroleum Congress (WPC) is widely recognized as the “Olympics of the oil & gas industry” which brings together the largest gathering of policy makers, operators, technology developers and academics in world oil and gas industry and is organised around a thematic focus that benefits the industry.

The World Petroleum Council is the only international organization representing all aspects of the petroleum sector. It was established in 1933 with the intent to promote the management of the world’s petroleum resources for the benefit of mankind.

The World Petroleum Council’s prime function is to catalyse and facilitate dialogue among stakeholders – both internal and external to the petroleum industry – on key technical, social, environmental and management issues in order to contribute towards seeking solutions to those issues.

The Congress in Moscow is expected to attract 5,000 delegates, 600 speakers and over 500 Ministers and CEOs from around the world who will come together to discuss and exchange ideas on how to ensure that the petroleum industry continues to galvanize world development and growth in a responsible way.

Highlights of the Congress will include the Opening Ceremony at the Kremlin Palace and the Russian Night in Gorky Park, together with regular features such as the Global Business Opportunities Centre with country stands from the 70 WPC member countries, the interactive digital Poster Plaza, the Global Village showcasing social responsibility projects, the Youth Lounge with a full engagement programme and many more.

This year’s theme is “ Responsibly Energising a Growing World” . Nigeria will be participating under the theme “Harnessing Nigeria’s Gas Resources for Sustainable National and Regional Development” in its exhibition and country presentation.

The exhibition, which is being arranged jointly by the Nigerian oil and gas industry, will highlight the nation’s gas potentials, achievements, current activities and plans in the upstream, midstream and downstream sub sectors of the gas industry.

In support of the theme, the Hon Minister of Petroleum Resources and leader of the Nigerian delegation, Mrs. Diezani Alison-Madueke will present the Nigerian country paper at the conference.

The paper will enunciate government’s policy initiatives and incentives to encourage investment in the entire value chain of the gas industry. The Honourable Minister will also participate in focus discussions by women in the industry and address investors and friends of Nigeria at the Nigerian Investment Dinner being organised by the Nigerian oil and gas industry as an important side event during the conference.

Established over 75 years ago, the World Petroleum Council continues to grow with new member countries. There are at the moment, over 60 member countries representing over 95% of the World’s major oil & gas producing and consuming countries. Nigeria joined in 1973 and has attended all the congresses since, the last three being in Doha in 2011, Spain in 2008 and South Africa in 2005 which Nigeria co-hosted.

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Gas

Platform Petroleum targets a billion-dollar investment

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Platform Petroleum

Announces ambitious expansion plans

 

Platform Petroleum says the company is targeting a billion-dollar investment as it announces an ambitious strategic plan to bring 3 marginal fields into production by 2025, with a target of 10,000 barrels of oil and at least 50 billion standard cubic feet of gas per day.

Speaking on the sidelines of the 2024 Offshore Technology Conference (OTC) in Houston, USA, Chief Dumo Lulu-Briggs, Chairman of Platform Petroleum said that the company has scheduled a roadshow in London this June 2024 to raise extra funding to finance their ambitious expansion plans.

“The upcoming roadshow aims to attract equity partners and prepare for future opportunities, targeting a billion-dollar investment. We are seeking partners ready to invest in Nigeria’s oil and gas potential.

Our goal is to showcase the country’s vast opportunities and its potential to international investors” Lulu-Briggs said.
Platform Petroleum’s roadshow in London will highlight the company’s efficient production, upgraded flow stations, increased capacity, and achievements in nearly zero emissions.

With about one percent gas flare currently, Platform aims for zero gas flares by the last quarter.

“Nigeria is a vast market, and Platform Petroleum is thinking big. With the government’s ambitious plans, such as the Lagos-Calabar coastal line, Platform is poised for growth; pushing itself to the next level, building on a strong foundation and following Seplat’s successful precedent”, Lulu-Briggs said.

Despite being a small company, he emphasized that Platform Petroleum has demonstrated significant success and efficiency, showcasing that smaller oil and gas entities can indeed achieve remarkable feats adding that he believes that the company deserves recognition and more assets.

“Platform Petroleum is ambitious, aspiring to become a tier-1 company akin to international oil companies (IOCs) or a tier-2 company like Seplat. Interestingly, Seplat originated from Maurel & Prom, Shebah Petroleum, and Platform Petroleum, and today stands as a major player in the industry.

This history underlines Platform’s potential for substantial growth”, Lulu-Briggs said.
Furthermore, the Platform Petroleum Chairman said that the Offshore Technology Conference (OTC) is a crucial event for promoting Nigeria’s significant market potential.

“Partnering with the Petroleum Technology Association of Nigeria (PETAN) at OTC is key to attracting investment. The current proactive government understands the necessity for economic growth, and Platform is prepared to leverage every opportunity in the oil and gas industry to contribute to this expansion”, he concluded.

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NNPC JV Unveils New Crude Oil Grade ‘Nembe’, Commences Exports With 1,900 Barrels

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Precious ADELOLA

The NNPC/Aiteo Joint venture has announced the introduction of Nembe Crude Oil Grade, a new crude oil grade into the international crude oil market.

 

The announcement of the Nembe Crude Oil Blend, produced by Aiteo, the Operator of the NNPC/Aiteo Oil Mining Lease (OML) 29 Joint Venture (JV), was made at the ongoing Argus European Crude Conference in London, on Tuesday.

 

OML 29, an asset located onshore Nigeria, is operated by Aiteo Eastern Exploration & Production Ltd, Africa’s leading indigenous hydrocarbon producer, following a historic acquisition from Shell in 2014.

 

NNPCL Boss, Engr. Mele Kyari

The Nembe Crude was previously blended with the popular Bonny Light grade and exported via the Bonny Oil & Gas Terminal.

The unique selling point of the Nembe Crude Oil grade with an API gravity was highlighted by both the Aiteo E & P and NNPC Limited Leadership at the Argus Conference in London.

The Nembe Crude Oil grade also has a low sulphur content and low carbon footprint due to flare gas elimination, fitting perfectly into the required spec of major buyers in Europe.

Two cargoes of 950,000 barrels each of the Nembe Crude Oil grade have since been exported to France and the Netherlands. With its attractive Assay of API 29 and low sulphur content, the Nembe Crude Oil grade commands a premium to the global Brent benchmark.

 

With the NNPC-Aiteo OML 29 JV back on-stream, Nigeria now boasts of an additional crude oil export of 2 Cargoes at 950,000 barrels each per month and 1.2 Bcf of export gas monthly.

 

This remarkable achievement signals the commencement of activities at Nigeria’s newest crude oil terminal, the Nembe Crude Oil Export Terminal (NCOET), which was licensed in line with the extant laws and Crude Oil Terminal establishment regulations.

 

The terminal was conceived as a Floating Storage and Offloading Vessel (FSO) with a storage capacity of two (2) Million Barrels and the ability to offload crude oil to any export tanker from AFRAMAX to Very Large Crude Carriers (VLCC).

 

It has a loading capacity of 25,000 barrels per hour and will be exporting over 3.6 million barrels of Crude oil monthly at full scale of operation.

 

Currently, hydrocarbon production from OML 29, which was hitherto constrained due to evacuation challenges owing to the security issues around the Nembe Creek Trunk Line (NCTL) corridor, has now been resolved through a collaborative and creative approach that led to the innovation of the Alternative Crude Oil Evacuation Solution.

 

The Argus European Crude Conference 2023 in London is a gathering of energy majors, refiners, NOCs, traders, financial institutions, and other representatives from across the global oil markets. The event also provides a critical opportunity for business leaders to connect, discuss, share and learn from one another.

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Business

NNPCL, NCDMB, Oil Majors Agree Improved Efficiencies

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Modupe Asudo

Major players in the oil and gas sector in Nigeria led by the Nigerian National Petroleum Company Limited (NNPCL) have covenanted to optimise operations by reducing contracting cycle to not more than 180 days.

A statement issued by the company disclosed that the Memorandum of Understanding (MoU) to this effect was endorced on Monday in Abuja at the company’s head office.

Other parties to the the contract include, the Nigerian Content Development and Monitoring Board, (NCDMB) and international oil companies.

Biztellers reports that an optimised contracting cycle was expected to improve the ease of doing business, reduce cost and drive efficiency, which would eventually translate to production growth, increased revenues, and ultimately improved profitability.

In addition, the MoU was expected to contribute significantly to the double-digit economic growth rate agenda of the Federal Government and generate value for all stakeholders, including investors, companies, host communities and Nigeria.

Notable elements in the framework of the MoU, going by the statement, included a reduction of the contracting cycle for open competitive tender, selective tender, and single sourcing tender to 180, 178, and 128 working days respectively.

This was in contrast with the current best effort performance of 327, 333, and 185 working days respectively.

According to Group Chief Executive Officer, NNPCL, Mele Kyari, signing the agreement portends exciting times for Nigeria’s oil and gas industry, in addition to standing as a bold testimony that the company was plunging into the future of hope, productivity and success.

Kyari, represented at the occasion by Executive Vice President, Upstream, NNPCL, Oritsemeyiwa Eyesan, pointed out that with oil and gas as the bedrock of Nigeria’s economy, there was need to get the contracting process in the Industry right so as to get the economy back on track.

In his remarks, Executive Secretary, NCDMB, Simbi Wabote, described the MoU as a way forward and a critical step towards enhancing the nation’s crude oil production.

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