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  •   The African Energy Chamber AEC is proud to announce that the Nigerian Association of Petroleum Explorers NAPE has become an official partner of the African Energy Week AEW conference and exhibition AECWeek com the premier event in Africa for the oil and gas sector that will take place from October 18 to 21 2022 in Cape Town Representing the largest professional association of petroleum geologists geophysicists CEOs consultants and academics in Nigeria one of Africa s largest hydrocarbon producers having NAPE as an official partner of the continent s largest energy event is critical to shaping to discussions on current trends and challenges and opportunities in the upstream oil and gas sector both in Nigeria and on the continent Since its establishment in 1975 NAPE has played a critical role in fostering interaction between Nigerian African and international oil and gas professionals promoting the growth of the industry by sharing and encouraging the adoption of best practices business models and standards With Nigeria looking to increase oil and gas production to address national energy security issues while pushing for the monetization of hydrocarbons to boost GDP and economic growth organizations like NAPE are critical in driving local content development and ensuring an innovative and state of the art workflow solutions are implemented to optimize operations throughout the African exploration and production sector In this regard with goals to increase Nigeria s proven gas reserves from 200 trillion cubic feet tcf to 600 tcf for domestic use and export as the energy transition intensifies and the global gas market expands Organizations like NAPE will be key even training the national workforce and creating a competitive market in the country At AEW 2022 NAPE representatives will participate in high level meetings and panel discussions to shape dialogue on how African countries can accelerate hydrocarbon exploration and production thereby increasing socio economic development and drawing more than 600 million people across the continent out of energy poverty Additionally with global policies related to the energy transition hampering the flow of investments needed to optimize oil and gas exploration NAPE representatives are well positioned to drive AEW 2022 discussions on best practices and technologies for Africa attract investment and maximize the development of hydrocarbons while remaining a climate champion The Chamber is honored to partner with NAPE for AEW 2022 With the partnership conversations during the event will focus on exploration and production with insights into how African countries can enhance capability development and skills transfer We believe that drilling more oil and gas wells is key to ending energy poverty in Africa and having modern geosciences and practices is vital to address the challenges and drive development This same narrative will be pushed forward at AEW 2022 with the help of NAPE said NJ Ayuk CEO of AEC Under the theme Exploring and Investing in Africa s Energy Future While Driving an Enabling Environment AEW 2022 will host NAPE representatives in various forums and keynote sessions on how Africa can modernize its oil and gas workforce while ensuring gender diversity and inclusion As an official partner of AEW 2022 NAPE will shape powerful discussions around developing local content in the African oil and gas sector as well as effective technical approaches to address industry challenges
    The Nigerian Association of Petroleum Explorers (NAPE) becomes an official partner of the African Week of Energy 2022
      The African Energy Chamber AEC is proud to announce that the Nigerian Association of Petroleum Explorers NAPE has become an official partner of the African Energy Week AEW conference and exhibition AECWeek com the premier event in Africa for the oil and gas sector that will take place from October 18 to 21 2022 in Cape Town Representing the largest professional association of petroleum geologists geophysicists CEOs consultants and academics in Nigeria one of Africa s largest hydrocarbon producers having NAPE as an official partner of the continent s largest energy event is critical to shaping to discussions on current trends and challenges and opportunities in the upstream oil and gas sector both in Nigeria and on the continent Since its establishment in 1975 NAPE has played a critical role in fostering interaction between Nigerian African and international oil and gas professionals promoting the growth of the industry by sharing and encouraging the adoption of best practices business models and standards With Nigeria looking to increase oil and gas production to address national energy security issues while pushing for the monetization of hydrocarbons to boost GDP and economic growth organizations like NAPE are critical in driving local content development and ensuring an innovative and state of the art workflow solutions are implemented to optimize operations throughout the African exploration and production sector In this regard with goals to increase Nigeria s proven gas reserves from 200 trillion cubic feet tcf to 600 tcf for domestic use and export as the energy transition intensifies and the global gas market expands Organizations like NAPE will be key even training the national workforce and creating a competitive market in the country At AEW 2022 NAPE representatives will participate in high level meetings and panel discussions to shape dialogue on how African countries can accelerate hydrocarbon exploration and production thereby increasing socio economic development and drawing more than 600 million people across the continent out of energy poverty Additionally with global policies related to the energy transition hampering the flow of investments needed to optimize oil and gas exploration NAPE representatives are well positioned to drive AEW 2022 discussions on best practices and technologies for Africa attract investment and maximize the development of hydrocarbons while remaining a climate champion The Chamber is honored to partner with NAPE for AEW 2022 With the partnership conversations during the event will focus on exploration and production with insights into how African countries can enhance capability development and skills transfer We believe that drilling more oil and gas wells is key to ending energy poverty in Africa and having modern geosciences and practices is vital to address the challenges and drive development This same narrative will be pushed forward at AEW 2022 with the help of NAPE said NJ Ayuk CEO of AEC Under the theme Exploring and Investing in Africa s Energy Future While Driving an Enabling Environment AEW 2022 will host NAPE representatives in various forums and keynote sessions on how Africa can modernize its oil and gas workforce while ensuring gender diversity and inclusion As an official partner of AEW 2022 NAPE will shape powerful discussions around developing local content in the African oil and gas sector as well as effective technical approaches to address industry challenges
    The Nigerian Association of Petroleum Explorers (NAPE) becomes an official partner of the African Week of Energy 2022
    Africa2 months ago

    The Nigerian Association of Petroleum Explorers (NAPE) becomes an official partner of the African Week of Energy 2022

    The African Energy Chamber (AEC) is proud to announce that the Nigerian Association of Petroleum Explorers (NAPE) has become an official partner of the African Energy Week (AEW) conference and exhibition (AECWeek.com), the premier event in Africa for the oil and gas sector that will take place from October 18 to 21, 2022, in Cape Town. Representing the largest professional association of petroleum geologists, geophysicists, CEOs, consultants and academics in Nigeria, one of Africa's largest hydrocarbon producers, having NAPE as an official partner of the continent's largest energy event is critical to shaping to discussions on current trends and challenges.

    and opportunities in the upstream oil and gas sector both in Nigeria and on the continent.

    Since its establishment in 1975, NAPE has played a critical role in fostering interaction between Nigerian, African and international oil and gas professionals, promoting the growth of the industry by sharing and encouraging the adoption of best practices, business models and standards.

    With Nigeria looking to increase oil and gas production to address national energy security issues while pushing for the monetization of hydrocarbons to boost GDP and economic growth, organizations like NAPE are critical in driving local content development and ensuring an innovative and state-of-the-art workflow.

    solutions are implemented to optimize operations throughout the African exploration and production sector.

    In this regard, with goals to increase Nigeria's proven gas reserves from 200 trillion cubic feet (tcf) to 600 tcf for domestic use and export, as the energy transition intensifies and the global gas market expands, Organizations like NAPE will be key, even training the national workforce and creating a competitive market in the country.

    At AEW 2022, NAPE representatives will participate in high-level meetings and panel discussions to shape dialogue on how African countries can accelerate hydrocarbon exploration and production, thereby increasing socio-economic development and drawing more than 600 million people across the continent out of energy poverty.

    Additionally, with global policies related to the energy transition hampering the flow of investments needed to optimize oil and gas exploration, NAPE representatives are well positioned to drive AEW 2022 discussions on best practices and technologies for Africa.

    attract investment and maximize the development of hydrocarbons.

    while remaining a climate champion.

    “The Chamber is honored to partner with NAPE for AEW 2022.

    With the partnership, conversations during the event will focus on exploration and production, with insights into how African countries can enhance capability development and skills transfer.

    .

    We believe that drilling more oil and gas wells is key to ending energy poverty in Africa and having modern geosciences and practices is vital to address the challenges and drive development.

    This same narrative will be pushed forward at AEW 2022 with the help of NAPE,” said NJ Ayuk, CEO of AEC.

    Under the theme "Exploring and Investing in Africa's Energy Future While Driving an Enabling Environment," AEW 2022 will host NAPE representatives in various forums and keynote sessions on how Africa can modernize its oil and gas workforce while ensuring gender diversity and inclusion.

    As an official partner of AEW 2022, NAPE will shape powerful discussions around developing local content in the African oil and gas sector, as well as effective technical approaches to address industry challenges.

  •   The Group Managing Director GMD Chief Executive Officer CEO of the Nigerian National Petroleum Company Limited Malam Mele Kyari started his weekly activities with an interview with Bloomberg TV in Abu Dhabi the United Arab Emirates UAE Kyari said in the interview that Nigeria would ramp up oil production to 1 8 million barrels per day of 2021 as against the 1 45 million BOPD in September He noted that in spite of this projection Nigeria could easily attain its maximum crude oil production capacity of 2 5 million barrels per day with the combined production of crude and condensates Kyari said It is obvious that of the year we will get back to the 1 7m 1 8m barrels per day of crude only as you may be aware when we mention these figures I am talking about crude oil only He said that at the height of the COVID 19 pandemic Nigeria shut down some of its wells and were yet to get back to their full production capacities Kyari however said the NNPC was assiduously working towards bringing the facilities back to optimal production before the end of the year The GMD further explained that the COVID 19 pandemic and the lack of clarity in the sector led to drought in investment in the Nigerian oil sector This situation he said had been corrected with the newly enacted Petroleum Industry Act PIA 2021 which provided ample investment opportunities in the Nigerian Oil and Gas Industry Also in the week the NNPC Limited called on the Nigerian Association of Petroleum Explorationists NAPE and other stakeholders in the petroleum industry to focus on developing home grown technology solutions that can improve performance and reduce carbon footprint in oil and gas operations The GMD CEO of the company Malam Mele Kyari gave the charge in a virtual goodwill message to the 39th NAPE Annual International Conference amp Exhibition with the theme Petroleum Exploration and Production in a new World What Next After the Global Crisis Kyari said it had become imperative for the industry in Nigeria to embrace the new realities of the post COVID 19 operating environment This he said can be achieved technology beyond the traditional seismic way of exploration in a manner that would support the Federal Government in its climate change mitigation measures He stated that one of the key challenges to the campaign for reduced greenhouse gas emissions was the issue of energy poverty which was the basis for President Muhammadu Buhari s advocacy for energy justice at the just concluded COP26 Climate Change Conference in Glasgow Scotland Kyari said that while he agree that the country should transit to a net zero carbon situation he also said it was necessary to create a balance right technology and fices to enable less developed countries bridge the gap and make their own transition at a convenient pace On the PIA the NNPC boss said that the new oil reform legislation offered refreshing opportunities especially in the deep water noting that Nigeria s reservoirs were not as complex as elsewhere in the world He therefore called on NAPE to innovate and ensure that the country reaps bountifully from its exploration activities He said the country would be relying on professional support from organisations like NAPE to achieve the desired aspirations in this regard while noting that focus must be on creating the capabilities and capacities that can sustain resilience in navigating new industry realities Meanwhile the Managing Director National Engineering and Technical Company NETCO an Engineering Procurement and Construction subsidiary of the NNPC Limited Engr Johnson Awoyomi has harped on the need for young engineers to embrace the principles of cost engineering that would enable them achieve the desired impact in their chosen professions Speaking at an interactive session with young engineers at the recently concluded Nigerian Association of Petroleum Explorationists NAPE 2021 Conference in Lagos Awoyomi noted that cost optimisation was a key factor in navigating the challenges facing the industry He advised the young engineers to upscale and update their knowledge of cost engineering which involves the management of project cost through such activities as cost estimation cost control cost forecasting investment appraisal and risk analysis In line with its commitment to effective implementation and sustained improvement of a Quality Management System QMS that meets global standard the Corporate Planning amp Strategy CP amp S Division of NNPC Limited recently joined the corporate world to mark this year s World Quality Week with the theme Sustainability Improving Our Product People amp Planet With focus on the Impact of quality management on the Planet the Environmental Social amp Goverce ESG staff of the CP amp S Division clad in T Shirts thronged the NNPC Towers handing out flyers and bearing banners with inscription Sustainability Improving our Product People amp planet Mr Olumuyiwa Onadeko the General Manager Transformation amp Efficiency CP amp S Division spoke on the significance of the QMS week and Quality Management System on the NNPC business and operations Still in the week under review the NNPC Limited signed a 1 04 billion dollars fice package with the African Export Import Bank AFREXIMBANK to boost its operations The billion dollar deal which was signed at the recently concluded Intra Africa Trade Fair IATF in Durban South Africa was designed to boost the nation s tax revenues and foreign currency receipts while creating thousands of jobs in the oil and gas value chain Mr Umar Ajiya Chief Ficial Officer of the NNPC signed the deal on behalf of the national oil company Benedict Oramah President of Afrieximbank who signed on behalf of the bank lauded the deal as very innovative Oramah explained that the decision to support NNPC with the facility was necessitated to adopt a balanced approach in the ongoing climate change debate He added that majority of the countries in the continent were undeveloped and still depended on fossil fuel for survival and as such should not be punished for the mistakes of others Stopping development for parts of Africa today to achieve a clean environment for the whole world tomorrow is utterly foolhardy Oramah argued The Intra African Trade Fair IATF 2021 is a 7 day pan African cross sector trade fair aimed at sharing trade investment and market information of African countries to buyers sellers investors and the global trade market Visit us on for more details Source NAN
    NNPC makes giant stride, targets 1.8mbpd production
      The Group Managing Director GMD Chief Executive Officer CEO of the Nigerian National Petroleum Company Limited Malam Mele Kyari started his weekly activities with an interview with Bloomberg TV in Abu Dhabi the United Arab Emirates UAE Kyari said in the interview that Nigeria would ramp up oil production to 1 8 million barrels per day of 2021 as against the 1 45 million BOPD in September He noted that in spite of this projection Nigeria could easily attain its maximum crude oil production capacity of 2 5 million barrels per day with the combined production of crude and condensates Kyari said It is obvious that of the year we will get back to the 1 7m 1 8m barrels per day of crude only as you may be aware when we mention these figures I am talking about crude oil only He said that at the height of the COVID 19 pandemic Nigeria shut down some of its wells and were yet to get back to their full production capacities Kyari however said the NNPC was assiduously working towards bringing the facilities back to optimal production before the end of the year The GMD further explained that the COVID 19 pandemic and the lack of clarity in the sector led to drought in investment in the Nigerian oil sector This situation he said had been corrected with the newly enacted Petroleum Industry Act PIA 2021 which provided ample investment opportunities in the Nigerian Oil and Gas Industry Also in the week the NNPC Limited called on the Nigerian Association of Petroleum Explorationists NAPE and other stakeholders in the petroleum industry to focus on developing home grown technology solutions that can improve performance and reduce carbon footprint in oil and gas operations The GMD CEO of the company Malam Mele Kyari gave the charge in a virtual goodwill message to the 39th NAPE Annual International Conference amp Exhibition with the theme Petroleum Exploration and Production in a new World What Next After the Global Crisis Kyari said it had become imperative for the industry in Nigeria to embrace the new realities of the post COVID 19 operating environment This he said can be achieved technology beyond the traditional seismic way of exploration in a manner that would support the Federal Government in its climate change mitigation measures He stated that one of the key challenges to the campaign for reduced greenhouse gas emissions was the issue of energy poverty which was the basis for President Muhammadu Buhari s advocacy for energy justice at the just concluded COP26 Climate Change Conference in Glasgow Scotland Kyari said that while he agree that the country should transit to a net zero carbon situation he also said it was necessary to create a balance right technology and fices to enable less developed countries bridge the gap and make their own transition at a convenient pace On the PIA the NNPC boss said that the new oil reform legislation offered refreshing opportunities especially in the deep water noting that Nigeria s reservoirs were not as complex as elsewhere in the world He therefore called on NAPE to innovate and ensure that the country reaps bountifully from its exploration activities He said the country would be relying on professional support from organisations like NAPE to achieve the desired aspirations in this regard while noting that focus must be on creating the capabilities and capacities that can sustain resilience in navigating new industry realities Meanwhile the Managing Director National Engineering and Technical Company NETCO an Engineering Procurement and Construction subsidiary of the NNPC Limited Engr Johnson Awoyomi has harped on the need for young engineers to embrace the principles of cost engineering that would enable them achieve the desired impact in their chosen professions Speaking at an interactive session with young engineers at the recently concluded Nigerian Association of Petroleum Explorationists NAPE 2021 Conference in Lagos Awoyomi noted that cost optimisation was a key factor in navigating the challenges facing the industry He advised the young engineers to upscale and update their knowledge of cost engineering which involves the management of project cost through such activities as cost estimation cost control cost forecasting investment appraisal and risk analysis In line with its commitment to effective implementation and sustained improvement of a Quality Management System QMS that meets global standard the Corporate Planning amp Strategy CP amp S Division of NNPC Limited recently joined the corporate world to mark this year s World Quality Week with the theme Sustainability Improving Our Product People amp Planet With focus on the Impact of quality management on the Planet the Environmental Social amp Goverce ESG staff of the CP amp S Division clad in T Shirts thronged the NNPC Towers handing out flyers and bearing banners with inscription Sustainability Improving our Product People amp planet Mr Olumuyiwa Onadeko the General Manager Transformation amp Efficiency CP amp S Division spoke on the significance of the QMS week and Quality Management System on the NNPC business and operations Still in the week under review the NNPC Limited signed a 1 04 billion dollars fice package with the African Export Import Bank AFREXIMBANK to boost its operations The billion dollar deal which was signed at the recently concluded Intra Africa Trade Fair IATF in Durban South Africa was designed to boost the nation s tax revenues and foreign currency receipts while creating thousands of jobs in the oil and gas value chain Mr Umar Ajiya Chief Ficial Officer of the NNPC signed the deal on behalf of the national oil company Benedict Oramah President of Afrieximbank who signed on behalf of the bank lauded the deal as very innovative Oramah explained that the decision to support NNPC with the facility was necessitated to adopt a balanced approach in the ongoing climate change debate He added that majority of the countries in the continent were undeveloped and still depended on fossil fuel for survival and as such should not be punished for the mistakes of others Stopping development for parts of Africa today to achieve a clean environment for the whole world tomorrow is utterly foolhardy Oramah argued The Intra African Trade Fair IATF 2021 is a 7 day pan African cross sector trade fair aimed at sharing trade investment and market information of African countries to buyers sellers investors and the global trade market Visit us on for more details Source NAN
    NNPC makes giant stride, targets 1.8mbpd production
    General news11 months ago

    NNPC makes giant stride, targets 1.8mbpd production

    The Group Managing Director (GMD)/Chief Executive Officer (CEO) of the Nigerian National Petroleum Company Limited, Malam Mele Kyari, started his weekly activities with an interview with Bloomberg TV in Abu Dhabi, the United Arab Emirates (UAE).

    Kyari said in the interview that Nigeria would ramp up oil production to 1.8 million barrels per day of 2021, as against the 1.45 million BOPD in September.

    He noted that in spite of this projection, Nigeria could easily attain its maximum crude oil production capacity of 2.5 million barrels per day with the combined production of crude and condensates.

    Kyari said: “It is obvious that of the year we will get back to the 1.7m-1.8m barrels per day of crude only; as you may be aware, when we mention these figures, I am talking about crude oil only.”

    He said that at the height of the COVID-19 pandemic, Nigeria shut down some of its wells and were yet to get back to their full production capacities.

    Kyari, however, said the NNPC was assiduously working towards bringing the facilities back to optimal production before the end of the year.

    The GMD further explained that the COVID-19 pandemic and the lack of clarity in the sector led to drought in investment in the Nigerian oil sector.

    This situation, he said had been corrected with the newly enacted Petroleum Industry Act (PIA) 2021 which provided ample investment opportunities in the Nigerian Oil and Gas Industry.

    Also in the week, the NNPC Limited called on the Nigerian Association of Petroleum Explorationists (NAPE) and other stakeholders in the petroleum industry to focus on developing home-grown technology solutions that can improve performance and reduce carbon footprint in oil and gas operations.

    The GMD/CEO of the company, Malam Mele Kyari, gave the charge in a virtual goodwill message to the 39th NAPE Annual International Conference & Exhibition with the theme – Petroleum Exploration and Production in a new World: What Next After the Global Crisis?

    Kyari said it had become imperative for the industry in Nigeria to embrace the new realities of the post COVID-19 operating environment.

    This, he said can be achieved technology beyond the traditional seismic way of exploration in a manner that would support the Federal Government in its climate change mitigation measures.

    He stated that one of the key challenges to the campaign for reduced greenhouse gas emissions was the issue of energy poverty which was the basis for President Muhammadu Buhari’s advocacy for energy justice at the just concluded COP26 Climate Change Conference in Glasgow, Scotland.

    Kyari said that while he agree that the country should transit to a net-zero carbon situation , he also said it was necessary to create a balance right technology and fices to enable less developed countries bridge the gap and make their own transition at a convenient pace.

    On the PIA, the NNPC boss said that the new oil reform legislation offered refreshing opportunities especially in the deep-water, noting that Nigeria’s reservoirs were not as complex as elsewhere in the world.

    He therefore called on NAPE to innovate and ensure that the country reaps bountifully from its exploration activities.

    He said the country would be relying on professional support from organisations like NAPE to achieve the desired aspirations in this regard, while noting that focus must be on creating the capabilities and capacities that can sustain resilience in navigating new industry realities.

    Meanwhile, the Managing Director, National Engineering and Technical Company (NETCO), an Engineering, Procurement and Construction subsidiary of the NNPC Limited, Engr. Johnson Awoyomi, has harped on the need for young engineers to embrace the principles of cost engineering that would enable them achieve the desired impact in their chosen professions.

    Speaking at an interactive session with young engineers at the recently concluded Nigerian Association of Petroleum Explorationists (NAPE) 2021 Conference in Lagos, Awoyomi noted that cost optimisation was a key factor in navigating the challenges facing the industry.

    He advised the young engineers to upscale and update their knowledge of cost engineering, which involves the management of project cost through such activities as cost estimation, cost control, cost forecasting, investment appraisal and risk analysis.

    In line with its commitment to effective implementation and sustained  improvement of a Quality Management System (QMS) that meets global standard, the Corporate Planning & Strategy (CP&S) Division of NNPC Limited recently joined the corporate world to mark this year’s World Quality Week with the theme “Sustainability: Improving Our Product, People & Planet”.

    With focus on the Impact of quality management on the Planet, the Environmental, Social & Goverce (ESG), staff of the CP&S Division, clad in T-Shirts, thronged the NNPC Towers handing out flyers and bearing banners with inscription- Sustainability: Improving our Product, People & planet.

    Mr Olumuyiwa Onadeko, the General Manager, Transformation & Efficiency, CP&S Division, spoke on the significance of the QMS week and Quality Management System on the NNPC business and operations.

    Still in the week under review, the NNPC Limited signed a 1.04 billion dollars fice package with the African Export-Import Bank (AFREXIMBANK) to boost its operations.

    The billion-dollar deal which was signed at the recently concluded Intra- Africa Trade Fair (IATF) in Durban, South Africa, was designed to boost the nation’s tax revenues and foreign currency receipts while creating thousands of jobs in the oil and gas value chain.

    Mr Umar Ajiya, Chief Ficial Officer of the NNPC, signed the deal on behalf of the national oil company.

    Benedict Oramah, President of Afrieximbank, who signed on behalf of the bank, lauded the deal as very innovative.

    Oramah explained that the decision to support NNPC with the facility was necessitated to adopt a balanced approach in the ongoing climate change debate.

    He added that majority of the countries in the continent were undeveloped and still depended on fossil fuel for survival and as such should not be punished for the mistakes of others.

    “Stopping development for parts of Africa today to achieve a clean environment for the whole world tomorrow is utterly foolhardy,” Oramah argued.

    The Intra-African Trade Fair (IATF) 2021 is a 7-day pan African, cross-sector trade fair aimed at sharing trade, investment and market information of African countries to buyers, sellers, investors and the global trade market.

    Visit us on for more details.

    Source: NAN

  •   The National Association of Petroleum Explorationists NAPE has called for the creation of a Special Energy Bank to finance oil and gas development projects NAPE made the call in a communique issued on Tuesday The communique read Mr Kazeem Koleoso was from the pre conference workshop ofits ongoing 38th Annual International Conference and Exhibition in Lagos The conference has the theme Accelerating Growth in Nigeria s Hydrocarbon Reserves Emerging Concepts Challenges and Opportunities Expatiating on the need for the energy bank Chief Tunde Afolabi a former President of NAPE said its setting up was vital to the development of the industry going forward He said the bank could provide low interest loans to operators in the sector which was very critical to Nigeria s economy According to him oil and gas companies account for between 19 and 25 per cent of loans owed commercial banks across the country We need to have a bank like the Bank of Industry or Bank of Agriculture It will be beneficial to the sector because such a financial institution will understand the oil and gas business and its challenges It will be able to provide funding for oil and gas projects which the country currently needs Afolabi said He also called for proper legislation and management of the industry as well as massive investment in infrastructure to reduce the cost of doing business in Nigeria On his part Mr Mele Kyari Group Managing Director Nigerian National Petroleum Corporation NNPC expressed optimism that the Petroleum Industry Bill PIB would be passed into law by mid 2021 Kyari said the bill which was now before the National Assembly would be the key to a clear fiscal environment for Nigeria s oil and gas industry He said achieving a 10 unit cost of production of crude oil was achievable by the end of 2021 Kyari said it would shore up revenue accruing to government and increase the profit of oil firms He said the NNPC would reinforce efforts in gas development for local consumption and export noting that gas would be a major player as nations transit to cleaner sources of energy The NNPC boss noted that there were new opportunities in the industry despite the impact of the COVID 19 pandemic urging companies to key into them He said the companies need to cut cost increase their revenue bases enter into strategic partnerships and share resources in order to thrive during these challenging times Edited By Chinyere Elele Bassey Oluwole Sogunle Source NAN
    NAPE seeks establishment of energy bank
      The National Association of Petroleum Explorationists NAPE has called for the creation of a Special Energy Bank to finance oil and gas development projects NAPE made the call in a communique issued on Tuesday The communique read Mr Kazeem Koleoso was from the pre conference workshop ofits ongoing 38th Annual International Conference and Exhibition in Lagos The conference has the theme Accelerating Growth in Nigeria s Hydrocarbon Reserves Emerging Concepts Challenges and Opportunities Expatiating on the need for the energy bank Chief Tunde Afolabi a former President of NAPE said its setting up was vital to the development of the industry going forward He said the bank could provide low interest loans to operators in the sector which was very critical to Nigeria s economy According to him oil and gas companies account for between 19 and 25 per cent of loans owed commercial banks across the country We need to have a bank like the Bank of Industry or Bank of Agriculture It will be beneficial to the sector because such a financial institution will understand the oil and gas business and its challenges It will be able to provide funding for oil and gas projects which the country currently needs Afolabi said He also called for proper legislation and management of the industry as well as massive investment in infrastructure to reduce the cost of doing business in Nigeria On his part Mr Mele Kyari Group Managing Director Nigerian National Petroleum Corporation NNPC expressed optimism that the Petroleum Industry Bill PIB would be passed into law by mid 2021 Kyari said the bill which was now before the National Assembly would be the key to a clear fiscal environment for Nigeria s oil and gas industry He said achieving a 10 unit cost of production of crude oil was achievable by the end of 2021 Kyari said it would shore up revenue accruing to government and increase the profit of oil firms He said the NNPC would reinforce efforts in gas development for local consumption and export noting that gas would be a major player as nations transit to cleaner sources of energy The NNPC boss noted that there were new opportunities in the industry despite the impact of the COVID 19 pandemic urging companies to key into them He said the companies need to cut cost increase their revenue bases enter into strategic partnerships and share resources in order to thrive during these challenging times Edited By Chinyere Elele Bassey Oluwole Sogunle Source NAN
    NAPE seeks establishment of energy bank
    Oil & Gas2 years ago

    NAPE seeks establishment of energy bank

    The National Association of Petroleum Explorationists (NAPE) has called for the creation of a Special Energy Bank to finance oil and gas development projects.

    NAPE made the call in a communique issued on Tuesday.

    The communique, read Mr Kazeem Koleoso, was from the pre-conference workshop of

    its ongoing 38th Annual International Conference and Exhibition in Lagos.

    The conference has the theme: “Accelerating Growth in Nigeria’s Hydrocarbon Reserves: Emerging Concepts, Challenges and Opportunities.”

    Expatiating on the need for the energy bank, Chief Tunde Afolabi, a former President of NAPE, said its setting up was vital to the development of the industry going forward.

    He said the bank could provide low-interest loans to operators in the sector which was very critical to Nigeria’s economy.

    According to him, oil and gas companies account for between 19 and 25 per cent of loans owed commercial banks across the country.

    “We need to have a bank like the Bank of Industry or Bank of Agriculture.

    It will be beneficial to the sector because such a financial institution will understand the oil and gas business and its challenges.

    ” It will be able to provide funding for oil and gas projects which the country currently needs “, Afolabi said.

    He also called for proper legislation and management of the industry as well as massive investment in infrastructure to reduce the cost of doing business in Nigeria.

    On his part, Mr Mele Kyari, Group Managing Director, Nigerian National Petroleum Corporation (NNPC), expressed optimism that the Petroleum Industry Bill (PIB) would be passed into law by mid 2021.

    Kyari said the bill,  which was now before the National Assembly, would be the key to a clear fiscal environment for Nigeria’s oil and gas industry.

    He said achieving a $10 unit cost of production of crude oil was achievable by the end of 2021.

    Kyari said it would shore up revenue accruing to government and increase the profit of oil firms.

    He said the NNPC would reinforce efforts in gas development for local consumption and export, noting that gas would be a major player as nations transit to cleaner sources of energy.

    The NNPC boss noted that there were new opportunities in the industry despite the impact of the COVID-19 pandemic, urging companies to key into them.

    He said the companies need to cut cost, increase their revenue bases, enter into strategic partnerships and share resources in order to thrive during these challenging times. 


    Edited By: Chinyere Elele-Bassey/Oluwole Sogunle
    Source: NAN

  •   Vice President Yemi Osinbajo said in Lagos on Tuesday that the fiscal provisions for gas business in the Petroleum Industry Bill PIB would be one of the most attractive in Africa The News Agency of Nigeria reports that Osinbajo made the declaration at the opening of the 38th Annual International Conference of the National Association of Petroleum Explorationists NAPE The conference has Accelerating Growth in Nigeria s Hydrocarbon Reserves Emerging Concepts Challenges and Opportunities as its theme Osinbajo who was represented by Chief Timipre Sylva the Minister of State for Petroleum Resources said low prices and OPEC crude oil production curtailment had largely resulted to lower revenue generation for the Federal Government The vice president maintained that government was committed to growing Nigeria s oil and gas reserves which currently stand at 36 89 billion barrels of crude oil and 203 16 trillion cubic feet of gas He said In order to grow our reserves we have proposed fiscal incentives that will attract investments in all our basins in the PIB In addition the fiscal provisions for gas business will be one of the most attractive in Africa Therefore opportunities abound for geoscientists engineers and numerous other service providers in the shortest time to come In order to significantly grow our hydrocarbon reserves we need to invest immensely in research and development so as to support the industry We need effective synergy and collaboration between policy makers academic institutions professional bodies oil and gas industry players and the research and development centres They need to come up with innovative ideas and technology for cost effective exploratory and drilling activities Osinbajo said the impact of the COVID 19 pandemic on crude oil prices had made it imperative to reduce the unit cost of production to 10 dollars per barrel adding that all hands must be on deck to achieve the target According to him the government is also focussed on ensuring the growth of the country s reserve base to at least 40 million barrels of crude oil as well as the production capacity to three million barrels of oil per day We are fully committed to this mandate and confident that we will achieve the desired goal of finding more hydrocarbon deposits in the Nigerian basins notwithstanding the curtailment in production We have the assurance that production curtailment will soon be over as the world economy improves the vice president added In his opening remarks the President of NAPE Mr Alex Tarka noted that COVID 19 pandemic had an adverse impact on the oil and gas industry stressing that the conference would provide opportunities for stakeholders to deliberate on the way forward Tarka said reduction in exploration and production activities had dire consequences for Nigeria due to the country s dependence on crude oil as the mainstay of its economy Edited By Alli Hakeem Source NAN
    Nigeria’s gas fiscal provisions will be one of the best in Africa – Osinbajo
      Vice President Yemi Osinbajo said in Lagos on Tuesday that the fiscal provisions for gas business in the Petroleum Industry Bill PIB would be one of the most attractive in Africa The News Agency of Nigeria reports that Osinbajo made the declaration at the opening of the 38th Annual International Conference of the National Association of Petroleum Explorationists NAPE The conference has Accelerating Growth in Nigeria s Hydrocarbon Reserves Emerging Concepts Challenges and Opportunities as its theme Osinbajo who was represented by Chief Timipre Sylva the Minister of State for Petroleum Resources said low prices and OPEC crude oil production curtailment had largely resulted to lower revenue generation for the Federal Government The vice president maintained that government was committed to growing Nigeria s oil and gas reserves which currently stand at 36 89 billion barrels of crude oil and 203 16 trillion cubic feet of gas He said In order to grow our reserves we have proposed fiscal incentives that will attract investments in all our basins in the PIB In addition the fiscal provisions for gas business will be one of the most attractive in Africa Therefore opportunities abound for geoscientists engineers and numerous other service providers in the shortest time to come In order to significantly grow our hydrocarbon reserves we need to invest immensely in research and development so as to support the industry We need effective synergy and collaboration between policy makers academic institutions professional bodies oil and gas industry players and the research and development centres They need to come up with innovative ideas and technology for cost effective exploratory and drilling activities Osinbajo said the impact of the COVID 19 pandemic on crude oil prices had made it imperative to reduce the unit cost of production to 10 dollars per barrel adding that all hands must be on deck to achieve the target According to him the government is also focussed on ensuring the growth of the country s reserve base to at least 40 million barrels of crude oil as well as the production capacity to three million barrels of oil per day We are fully committed to this mandate and confident that we will achieve the desired goal of finding more hydrocarbon deposits in the Nigerian basins notwithstanding the curtailment in production We have the assurance that production curtailment will soon be over as the world economy improves the vice president added In his opening remarks the President of NAPE Mr Alex Tarka noted that COVID 19 pandemic had an adverse impact on the oil and gas industry stressing that the conference would provide opportunities for stakeholders to deliberate on the way forward Tarka said reduction in exploration and production activities had dire consequences for Nigeria due to the country s dependence on crude oil as the mainstay of its economy Edited By Alli Hakeem Source NAN
    Nigeria’s gas fiscal provisions will be one of the best in Africa – Osinbajo
    Oil & Gas2 years ago

    Nigeria’s gas fiscal provisions will be one of the best in Africa – Osinbajo

    Vice-President Yemi Osinbajo said in Lagos on Tuesday that the fiscal provisions for gas business in the Petroleum Industry Bill (PIB) would  be one of the most attractive in Africa.

    The News Agency of Nigeria reports that Osinbajo made the declaration at the opening of the 38th Annual International Conference of the National Association of Petroleum Explorationists (NAPE).

    The conference has “Accelerating Growth in Nigeria’s Hydrocarbon Reserves: Emerging Concepts, Challenges and Opportunities.’’ as its theme.

    Osinbajo who was represented by Chief Timipre Sylva, the Minister of State for Petroleum Resources, said low prices and OPEC+ crude oil production curtailment had largely resulted to lower revenue generation for the Federal Government.

    The vice-president maintained that government was committed to growing Nigeria’s oil and gas reserves, which currently stand at 36.89 billion barrels of crude oil and 203.16 trillion cubic feet of gas.

    He said: “In order to grow our reserves, we have proposed fiscal incentives that will attract investments in all our basins in the PIB.

    “In addition, the fiscal provisions for gas business will be one of the most attractive in Africa.

    “Therefore, opportunities abound for geoscientists, engineers and numerous other service providers in the shortest time to come.

    “In order to significantly grow our hydrocarbon reserves, we need to invest immensely in research and development so as to support the industry.

    “We need effective synergy and collaboration between policy makers, academic institutions, professional bodies, oil and gas industry players and the research and development centres.

    “They need to come up with innovative ideas and technology for cost-effective exploratory and drilling activities.’’

    Osinbajo said the impact of the COVID-19 pandemic on crude oil prices had made it imperative to reduce the unit cost of production to 10 dollars per barrel, adding that all hands must be on deck to achieve the target.

    According to him, the government is also focussed on ensuring the growth of the country’s reserve base to at least 40 million barrels of crude oil, as well as the production capacity to three million barrels of oil per day.

    “We are fully committed to this mandate and confident that we will achieve the desired goal of finding more hydrocarbon deposits in the Nigerian basins notwithstanding the curtailment in production.

    “We have the assurance that production curtailment will soon be over as the world economy improves,’’ the vice-president added.

    In his opening remarks, the President of NAPE, Mr Alex Tarka, noted that COVID-19 pandemic had an adverse impact on the oil and gas industry, stressing that the conference would provide opportunities for stakeholders to deliberate on the way forward.

    Tarka said reduction in exploration and production activities had dire consequences for Nigeria due to the country’s dependence on crude oil as the mainstay of its economy.


    Edited By: Alli Hakeem
    Source: NAN

  •   A financial expert Mr Pedro Omontuemhen says Nigeria has suffered a loss of over 30 billion investments in the oil and gas sector due to the delay in the passage of the Petroleum Industry Bill PIB Omontuemhen a Partner with PricewaterhouseCoopers spoke on Monday at the Pre Conference Workshop held ahead of the 38th Annual International Conference of theNational Association of Petroleum Explorationists NAPE The News Agency of Nigeria reports that the theme of the workshop was Levers for Optimal Cost Reduction in Nigeria s Oil and Gas Production Positioning for the New Normal He said that the PIB currently before the National Assembly as an Executive Bill had suffered delay for almost 20 years which had led to uncertainties in the petroleum industry Investment in the oil and gas sector has reduced and Nigeria has lost about 30 billion investments due to the uncertainties in the regulatory environment As a country we need to urgently pass the PIB into law so that we can attract Foreign Direct Investment to the oil and gas industry Omontuemhen said He however warned that the PIB would face challenges despite the assurance given by the legislature and the executive on its quick passage According to him opposition to the bill may likely come from Niger Delta governors who have expressed dissatisfaction with the alleged freedom given to Zamfara State to manage its Gold resources Also Mr Roger Brown Chief Executive Officer Seplat Petroleum Development Company Plc said the COVID 19 pandemic had made it imperative for the oil and gas companies to develop innovative ways of survival Brown said these include reduction in cost of crude oil production to 10 per barrel capital efficiency utilisation of technology and strategic partnership among companies He also called on the government to look for further ways of supporting indigenous companies in the sector and create a conducive operating environment Earlier Mr Alex Tarka President NAPE said the Nigerian economy lost billions of dollars to the lockdown necessitated by the COVID 19 pandemic and crash in the price of crude oil Tarka said Nigeria should therefore brace up for the impact of the second wave of Coronavirus on its economy as some countries had introduced fresh lockdown measures to contain the disease Edited By Oluwole Sogunle Source NAN
    Delay in PIB passage affecting foreign investment — Expert
      A financial expert Mr Pedro Omontuemhen says Nigeria has suffered a loss of over 30 billion investments in the oil and gas sector due to the delay in the passage of the Petroleum Industry Bill PIB Omontuemhen a Partner with PricewaterhouseCoopers spoke on Monday at the Pre Conference Workshop held ahead of the 38th Annual International Conference of theNational Association of Petroleum Explorationists NAPE The News Agency of Nigeria reports that the theme of the workshop was Levers for Optimal Cost Reduction in Nigeria s Oil and Gas Production Positioning for the New Normal He said that the PIB currently before the National Assembly as an Executive Bill had suffered delay for almost 20 years which had led to uncertainties in the petroleum industry Investment in the oil and gas sector has reduced and Nigeria has lost about 30 billion investments due to the uncertainties in the regulatory environment As a country we need to urgently pass the PIB into law so that we can attract Foreign Direct Investment to the oil and gas industry Omontuemhen said He however warned that the PIB would face challenges despite the assurance given by the legislature and the executive on its quick passage According to him opposition to the bill may likely come from Niger Delta governors who have expressed dissatisfaction with the alleged freedom given to Zamfara State to manage its Gold resources Also Mr Roger Brown Chief Executive Officer Seplat Petroleum Development Company Plc said the COVID 19 pandemic had made it imperative for the oil and gas companies to develop innovative ways of survival Brown said these include reduction in cost of crude oil production to 10 per barrel capital efficiency utilisation of technology and strategic partnership among companies He also called on the government to look for further ways of supporting indigenous companies in the sector and create a conducive operating environment Earlier Mr Alex Tarka President NAPE said the Nigerian economy lost billions of dollars to the lockdown necessitated by the COVID 19 pandemic and crash in the price of crude oil Tarka said Nigeria should therefore brace up for the impact of the second wave of Coronavirus on its economy as some countries had introduced fresh lockdown measures to contain the disease Edited By Oluwole Sogunle Source NAN
    Delay in PIB passage affecting foreign investment — Expert
    Oil & Gas2 years ago

    Delay in PIB passage affecting foreign investment — Expert

    A financial expert, Mr Pedro Omontuemhen, says Nigeria has suffered a loss of over $30 billion investments in the oil and gas sector due to the delay in the passage of the Petroleum Industry Bill (PIB).

    Omontuemhen, a Partner with PricewaterhouseCoopers, spoke on Monday at the Pre-Conference Workshop held ahead of the 38th Annual International Conference of the

    National Association of Petroleum Explorationists (NAPE).

    The News Agency of Nigeria reports that the theme of the workshop was : ” Levers for Optimal Cost Reduction in Nigeria’s Oil and Gas Production: Positioning for the New Normal.”

    He said that the PIB, currently before the National Assembly as an Executive Bill,  had suffered delay for almost 20 years, which had led to uncertainties in the petroleum industry.

    “Investment in the oil and gas sector has reduced and Nigeria has lost about $30 billion investments due to the uncertainties in the regulatory environment.

    “As a country, we need to urgently pass the PIB into law so that we can attract Foreign Direct Investment to the oil and gas industry, ” Omontuemhen said.

    He, however warned that the PIB would face challenges despite the assurance given by the legislature and the executive on its quick passage.

    According to him, opposition to the bill may likely come from Niger Delta governors who have expressed dissatisfaction with the alleged freedom given to Zamfara State to manage its Gold resources.

    Also, Mr Roger Brown, Chief Executive Officer, Seplat Petroleum Development Company Plc,  said the COVID-19 pandemic had made it imperative for the oil and gas companies to develop innovative ways of survival.

    Brown said these include reduction in cost of crude oil production to $10 per barrel, capital efficiency, utilisation of technology and strategic partnership among companies.

    He also called on the government to look for further ways of supporting indigenous companies in the sector and create a conducive operating environment.

    Earlier, Mr Alex Tarka, President, NAPE, said the Nigerian economy lost billions of dollars to the lockdown necessitated by the COVID-19 pandemic and crash in the price of crude oil.

    Tarka said Nigeria should therefore brace up for the impact of the second wave of Coronavirus on its economy as some countries had introduced fresh lockdown measures to contain the disease.


    Edited By: Oluwole Sogunle
    Source: NAN

  •  Media professionals covering energy and the oil and gas sector have been tasked on accurate reportage of activities in the industry due to its importance to the Nigerian economy Mr Alex Tarka President National Association of Petroleum Explorationists NAPE gave the charge on Tuesday at a virtual workshop organised by NAPE for media professionals reporting events in the oil and gas industry The News Agency of Nigeria reports that the workshop had the theme Accessing Quality Information and Data Journalism for Oil and Gas Media Professionals Tarka said the aim of the workshop was to deepen the knowledge of the media on the workings of the industry especially due to its highly technical and dynamic nature He said The oil and gas industry is highly technical in its processes and operations It is important that the reportage of events in the oil and gas space by oil and gas media professionals is delivered accurately in context and with the appropriate degree of details In his presentation Mr Toyin Akinosho Publisher African Oil Gas Report enjoined the participants to be wary of fake news which have become prevalent in recent times Akinosho urged the media professionals to abide by the ethics of the profession at all times in their reportage Similarly Mrs Yvette Dimiri Growth Editor Stears Business encouraged them to always back up their stories with data to increase objectivity in the minds of their audience She said the participants should embrace data and digital journalism going forward especially as the traditional media had been greatly hit by the COVID 19 pandemic NAN reports that the workshop is the fifth edition of NAPE workshops for media professionals reporting events in the oil and gas industry Edited By Oluwole Sogunle Source NAN
    NAPE chief tasks media professionals on accuracy in reportage
     Media professionals covering energy and the oil and gas sector have been tasked on accurate reportage of activities in the industry due to its importance to the Nigerian economy Mr Alex Tarka President National Association of Petroleum Explorationists NAPE gave the charge on Tuesday at a virtual workshop organised by NAPE for media professionals reporting events in the oil and gas industry The News Agency of Nigeria reports that the workshop had the theme Accessing Quality Information and Data Journalism for Oil and Gas Media Professionals Tarka said the aim of the workshop was to deepen the knowledge of the media on the workings of the industry especially due to its highly technical and dynamic nature He said The oil and gas industry is highly technical in its processes and operations It is important that the reportage of events in the oil and gas space by oil and gas media professionals is delivered accurately in context and with the appropriate degree of details In his presentation Mr Toyin Akinosho Publisher African Oil Gas Report enjoined the participants to be wary of fake news which have become prevalent in recent times Akinosho urged the media professionals to abide by the ethics of the profession at all times in their reportage Similarly Mrs Yvette Dimiri Growth Editor Stears Business encouraged them to always back up their stories with data to increase objectivity in the minds of their audience She said the participants should embrace data and digital journalism going forward especially as the traditional media had been greatly hit by the COVID 19 pandemic NAN reports that the workshop is the fifth edition of NAPE workshops for media professionals reporting events in the oil and gas industry Edited By Oluwole Sogunle Source NAN
    NAPE chief tasks media professionals on accuracy in reportage
    Oil & Gas2 years ago

    NAPE chief tasks media professionals on accuracy in reportage

    Media professionals covering energy and the oil and gas sector have been tasked on accurate reportage of activities in the industry due to its importance to the Nigerian economy.

    Mr Alex Tarka, President, National Association of Petroleum Explorationists (NAPE) gave the charge on Tuesday at a virtual workshop organised by NAPE for  media professionals reporting events in the oil and gas industry.

    The News Agency of Nigeria reports that the workshop had the theme :”Accessing Quality Information and Data Journalism for Oil and Gas Media Professionals.”

    Tarka said the aim of the workshop was to deepen the knowledge of the media on the workings of the industry, especially due to its highly technical and dynamic nature.

    He said : “The oil and gas industry is highly technical in its processes and operations.

    “It is important that the reportage of events in the oil and gas space by oil and gas media professionals is delivered accurately, in context and with the appropriate degree of details. “

    In his presentation, Mr Toyin Akinosho,  Publisher, African Oil+Gas Report, enjoined the participants to be wary of fake news which have become prevalent in recent times.

     

    Akinosho urged the media professionals to abide by the ethics of the profession at all times in their reportage.

     

    Similarly, Mrs Yvette Dimiri, Growth Editor, Stears Business, encouraged them to always back up their stories with data to increase objectivity in the minds of their audience.

     

    She said the participants should embrace data and digital journalism  going forward, especially as the traditional media had been greatly hit by the COVID-19 pandemic. 

     

    NAN reports that the workshop is the fifth edition of NAPE workshops for media professionals reporting events in the oil and gas industry.


    Edited By: Oluwole Sogunle
    Source: NAN

     

  •  Mr Mike Sangster Managing Director Total E P Nigeria Limited on Wednesday said the International Oil Company IOC contributed 3 2 million 1 2 billion in support of the Federal Government s battle against COVID 19 Sangster made the disclosure while speaking at the virtual August Technical Presentation of Nigeria Association of Petroleum Explorationists NAPE The managing director who was represented by Mr Olatunji Akinwunmi General Manager GSR Deepwater Total E P said Nigeria was crucial to the Total Group accounting for around 10 per cent of its equity production We are all aware of the raging COVID 19 pandemic which has held the world hostage for several months now The adverse effect on lives and businesses especially the oil and gas industry cannot be overemphasised Please permit me to touch on some of Total s interventions in the fight against the COVID 19 pandemic As a socially responsible company Total rose to the clarion call of the federal government along with its partners led by the Nigerian National Petroleum Corporation NNPC by contributing to a donation of 21 billion in support of the federal government s COVID 19 efforts Total s contribution was 3 2 million 1 2 billion he said According to him the company also supported the Lagos State Government and its Rivers counterpart with critical supplies and medical equipment Sangster disclosed that Total Nigeria Plc which operates downstream also donated 50 million as part of a combined contribution from the Major Oil Marketers Association of Nigeria MOMAN under the auspices of the NNPC He said Total has also invested approximately 10 billion in the country in recent years The company makes an annual expenditure of over 40 million on Corporate Social Responsibility in Nigeria with remarkable investments in capacity development employability health education as well as infrastructure Last year we inaugurated more than 14 legacy projects including mammography centres and maternal child referral centres As we speak arrangements are in top gear for the inauguration and handing over of newly completed projects to benefitting communities across the length and breadth of the country The Total boss expressed concern about the depletion of Nigeria s oil and gas reserves without proportionate exploration activities to ensure long term sustainability and replenishment According to him a combination of factors which include uncertain fiscal and regulatory regimes policies that make new investments unattractive and uncompetitive and low oil prices are easily to blame for this development Total as a key stakeholder in the Nigerian oil and gas industry is prepared to work with the government partners and other stakeholders to address these bottlenecks to new exploration investments he said Also Mr Alex Tarka President NAPE said the association would continue to work with Total and other stakeholders to increase exploration activities in the country toward boosting its oil and gas reserves Edited By Oluwole Sogunle NAN
    How Total is supporting FG’s fight against COVID-19 — MD
     Mr Mike Sangster Managing Director Total E P Nigeria Limited on Wednesday said the International Oil Company IOC contributed 3 2 million 1 2 billion in support of the Federal Government s battle against COVID 19 Sangster made the disclosure while speaking at the virtual August Technical Presentation of Nigeria Association of Petroleum Explorationists NAPE The managing director who was represented by Mr Olatunji Akinwunmi General Manager GSR Deepwater Total E P said Nigeria was crucial to the Total Group accounting for around 10 per cent of its equity production We are all aware of the raging COVID 19 pandemic which has held the world hostage for several months now The adverse effect on lives and businesses especially the oil and gas industry cannot be overemphasised Please permit me to touch on some of Total s interventions in the fight against the COVID 19 pandemic As a socially responsible company Total rose to the clarion call of the federal government along with its partners led by the Nigerian National Petroleum Corporation NNPC by contributing to a donation of 21 billion in support of the federal government s COVID 19 efforts Total s contribution was 3 2 million 1 2 billion he said According to him the company also supported the Lagos State Government and its Rivers counterpart with critical supplies and medical equipment Sangster disclosed that Total Nigeria Plc which operates downstream also donated 50 million as part of a combined contribution from the Major Oil Marketers Association of Nigeria MOMAN under the auspices of the NNPC He said Total has also invested approximately 10 billion in the country in recent years The company makes an annual expenditure of over 40 million on Corporate Social Responsibility in Nigeria with remarkable investments in capacity development employability health education as well as infrastructure Last year we inaugurated more than 14 legacy projects including mammography centres and maternal child referral centres As we speak arrangements are in top gear for the inauguration and handing over of newly completed projects to benefitting communities across the length and breadth of the country The Total boss expressed concern about the depletion of Nigeria s oil and gas reserves without proportionate exploration activities to ensure long term sustainability and replenishment According to him a combination of factors which include uncertain fiscal and regulatory regimes policies that make new investments unattractive and uncompetitive and low oil prices are easily to blame for this development Total as a key stakeholder in the Nigerian oil and gas industry is prepared to work with the government partners and other stakeholders to address these bottlenecks to new exploration investments he said Also Mr Alex Tarka President NAPE said the association would continue to work with Total and other stakeholders to increase exploration activities in the country toward boosting its oil and gas reserves Edited By Oluwole Sogunle NAN
    How Total is supporting FG’s fight against COVID-19 — MD
    COVID-192 years ago

    How Total is supporting FG’s fight against COVID-19 — MD

    Mr Mike Sangster, Managing Director, Total E&P Nigeria Limited, on Wednesday said the International Oil Company (IOC) contributed $3.2 million (₦1.2 billion) in support of the Federal Government’s battle against COVID-19.

    Sangster made the disclosure while speaking at the virtual August Technical Presentation of Nigeria  Association of Petroleum Explorationists (NAPE).

    The managing director, who was represented by Mr Olatunji Akinwunmi, General Manager, GSR (Deepwater), Total E&P, said Nigeria was crucial to the Total Group, accounting for around 10 per cent of its equity production.

     

     ” We are all aware of the raging COVID-19 pandemic which has held the world hostage for several months now.

    “The adverse effect on lives and businesses, especially the oil and gas industry, cannot be overemphasised.

    “Please permit me to touch on some of Total’s interventions in the fight against the COVID-19 pandemic.

    “As a socially responsible company, Total rose to the clarion call of the federal government along with its partners, led by the Nigerian National Petroleum Corporation (NNPC), by contributing to a donation of ₦21 billion in support of the federal government’s COVID-19 efforts.

    “Total’s contribution was $3.2 million (₦1.2 billion), ” he said.

    According to him, the company also supported the Lagos State Government and its Rivers counterpart with critical supplies and medical equipment.

    Sangster disclosed that Total Nigeria Plc , which operates downstream, also donated ₦50 million as part of a combined contribution from the Major Oil Marketers Association of Nigeria (MOMAN), under the auspices of the NNPC.

    He said :”Total has also invested approximately  $10 billion in the country in recent years.

    “The company makes an annual expenditure of over $40 million  on Corporate Social Responsibility in Nigeria; with remarkable investments in capacity development, employability, health, education as well as infrastructure.

    “Last year, we inaugurated more than 14 legacy projects including mammography centres and maternal child referral centres.

    ” As we speak, arrangements are in top gear for the inauguration and handing over of newly completed projects to benefitting communities across the length and breadth of the country. “

    The Total boss expressed concern about the depletion of Nigeria’s oil and gas reserves without proportionate exploration activities to ensure long term sustainability and replenishment.

    According to him, a combination of factors which include uncertain fiscal and regulatory regimes, policies that make new investments unattractive and uncompetitive, and low oil prices are easily to blame for this development.

    “Total as a key stakeholder in the Nigerian oil and gas industry is prepared to work with the government, partners, and other stakeholders, to address these bottlenecks to new exploration investments, ” he said.

    Also, Mr Alex Tarka, President, NAPE, said the association would continue to work with Total and other stakeholders to increase exploration activities in the country toward boosting its oil and gas reserves.


    Edited By: Oluwole Sogunle (NAN)

  •  The Department of Petroleum Resources DPR has promised to use its regulatory framework to continue to create opportunities and enable businesses in the oil and gas industry A statement by Mr Paul Osu the Head Public Affairs in DPR on Sunday in Lagos said the agency s Director Mr Auwalu Sarki gave the assurance at the 45th Virtual Anniversary of the Nigerian Association of Petroleum Explorationists NAPE Sarki said that the DPR would collaborate with all players to drive growth and eliminate bottlenecks to attract investments He said that the topic of the anniversary lecture Long Term Funding of Exploration and Petroleum Business in Nigeria Strategies for Sustainability aligned with DPR s commitment to make Nigeria a top investment destination According to him this can be achieved through the implementation of robust regulatory initiatives and strategies to ensure maximum benefits from the country s hydrocarbon resources for both investors and Nigerians alike He congratulated the association and its founding fathers for the immense contributions to the Nigerian oil and gas industry over the years Sarki promised that the DPR would continue to collaborate with professional associations like NAPE for the development of the oil and gas sector He said that the DPR was causing a paradigm shift from being a regulator to a business enabler in the oil and gas industry in Nigeria in order to achieve the aspirations of government in the sector Edited By Tayo Ikujuni Tajudeen Atitebi NAN
    DPR to create opportunities to enable business in oil, gas industry — Director
     The Department of Petroleum Resources DPR has promised to use its regulatory framework to continue to create opportunities and enable businesses in the oil and gas industry A statement by Mr Paul Osu the Head Public Affairs in DPR on Sunday in Lagos said the agency s Director Mr Auwalu Sarki gave the assurance at the 45th Virtual Anniversary of the Nigerian Association of Petroleum Explorationists NAPE Sarki said that the DPR would collaborate with all players to drive growth and eliminate bottlenecks to attract investments He said that the topic of the anniversary lecture Long Term Funding of Exploration and Petroleum Business in Nigeria Strategies for Sustainability aligned with DPR s commitment to make Nigeria a top investment destination According to him this can be achieved through the implementation of robust regulatory initiatives and strategies to ensure maximum benefits from the country s hydrocarbon resources for both investors and Nigerians alike He congratulated the association and its founding fathers for the immense contributions to the Nigerian oil and gas industry over the years Sarki promised that the DPR would continue to collaborate with professional associations like NAPE for the development of the oil and gas sector He said that the DPR was causing a paradigm shift from being a regulator to a business enabler in the oil and gas industry in Nigeria in order to achieve the aspirations of government in the sector Edited By Tayo Ikujuni Tajudeen Atitebi NAN
    DPR to create opportunities to enable business in oil, gas industry — Director
    Oil & Gas2 years ago

    DPR to create opportunities to enable business in oil, gas industry — Director

    The Department of Petroleum Resources (DPR) has promised to use its regulatory framework to continue to create opportunities and enable businesses in the oil and gas industry.

    A statement by Mr Paul Osu, the Head, Public Affairs in DPR, on Sunday in Lagos  said the agency’s Director, Mr Auwalu Sarki, gave the assurance at the 45th Virtual Anniversary of the Nigerian Association of Petroleum Explorationists (NAPE).

    Sarki said that the DPR would collaborate  with all players to drive growth and eliminate bottlenecks to attract investments.

    He said that the topic of the anniversary lecture, ‘Long- Term Funding of Exploration and Petroleum Business in Nigeria – Strategies for Sustainability’, aligned with DPR’s commitment to make Nigeria a top investment destination.

    According to him, this can be achieved through the implementation of robust regulatory initiatives and strategies to ensure maximum benefits from the country’s hydrocarbon resources for both investors and Nigerians alike.

    He congratulated the association and its founding fathers for the immense contributions to the Nigerian oil and gas industry over the years.

     Sarki promised that the DPR would continue to collaborate with professional associations like NAPE for the development of the oil and gas sector.

    He said that the DPR was causing a paradigm shift from being a regulator to a business enabler in the oil and gas industry in Nigeria in order to achieve the aspirations of government in the sector.

    Á


    Edited By: Tayo Ikujuni/Tajudeen Atitebi (NAN)

  •  Mr Alex Tarka President Nigerian Association of Petroleum Explorationists NAPE says the delay in the passage of Petroleum Industry Bill PIB has negatively impacted exploration in the oil and gas sector Tarka made this known at Virtual workshop on Leveraging fiscal regulations to attract Investments in the Petroleum sector on Thursday He said that there was the need for policy that would help drive the expected investments and stimulus in the upstream oil and gas sector for employment generation and economic growth The News Agency of Nigeria recalls that the Minister of State for petroleum Resources Chief Timipre Sylva had on July 14 announced that the PIB would be sent to the NASS in two weeksNAN also reports that the National Assembly NASS said it is expecting the new PIB soon for deliberations and debate to begin on the much awaited piece of legislationHe said there was need for aggressive exploration in the country noting that new fiscal policy of the PIB must reduce government participation to enable investors to participate He said that currently only the Nigerian National Petroleum Corporation NNPC had been involved in exploration in the country This he said was not good for the sector with the role oil and gas sector played in the economic development of the country NAPE president noted that government must ensure that it stuck to the date it had proposed in the presentation of the PIB to the National Assembly and ensure that its speedy paasage Due to lack of PIB no exploration is currently going on in the country only NNPC is the one operating this is not good for the industry The industry especially the upstream needs a lot of palliatives waivers and stimulus to operate to enable it sustain employment We need policies in place to get thing done properly he noted Tarka further noted that delay in passing PIB had driven away many investors to the sector adding that the quick passage of the bill would show the seriousness of Nigerian government in developing the sector Exploration is expensive especially here so as an investor if I don t see any seriousness by government to show how safe my investment will be I will keep it elsewhere Until PIB is passed investors will continue to look elsewhere to invest so there is no better time than now to rob minds on this issue and get the bill passed he added Edited By Maureen Atuonwu NAN
    Delay in passage of PIB affects exploration, investments- NAPE
     Mr Alex Tarka President Nigerian Association of Petroleum Explorationists NAPE says the delay in the passage of Petroleum Industry Bill PIB has negatively impacted exploration in the oil and gas sector Tarka made this known at Virtual workshop on Leveraging fiscal regulations to attract Investments in the Petroleum sector on Thursday He said that there was the need for policy that would help drive the expected investments and stimulus in the upstream oil and gas sector for employment generation and economic growth The News Agency of Nigeria recalls that the Minister of State for petroleum Resources Chief Timipre Sylva had on July 14 announced that the PIB would be sent to the NASS in two weeksNAN also reports that the National Assembly NASS said it is expecting the new PIB soon for deliberations and debate to begin on the much awaited piece of legislationHe said there was need for aggressive exploration in the country noting that new fiscal policy of the PIB must reduce government participation to enable investors to participate He said that currently only the Nigerian National Petroleum Corporation NNPC had been involved in exploration in the country This he said was not good for the sector with the role oil and gas sector played in the economic development of the country NAPE president noted that government must ensure that it stuck to the date it had proposed in the presentation of the PIB to the National Assembly and ensure that its speedy paasage Due to lack of PIB no exploration is currently going on in the country only NNPC is the one operating this is not good for the industry The industry especially the upstream needs a lot of palliatives waivers and stimulus to operate to enable it sustain employment We need policies in place to get thing done properly he noted Tarka further noted that delay in passing PIB had driven away many investors to the sector adding that the quick passage of the bill would show the seriousness of Nigerian government in developing the sector Exploration is expensive especially here so as an investor if I don t see any seriousness by government to show how safe my investment will be I will keep it elsewhere Until PIB is passed investors will continue to look elsewhere to invest so there is no better time than now to rob minds on this issue and get the bill passed he added Edited By Maureen Atuonwu NAN
    Delay in passage of PIB affects exploration, investments- NAPE
    Oil & Gas2 years ago

    Delay in passage of PIB affects exploration, investments- NAPE

    Mr Alex Tarka, President, Nigerian Association of Petroleum Explorationists (NAPE) says the delay in the passage of Petroleum Industry Bill  (PIB) has negatively impacted exploration in the oil and gas sector.

    Tarka made this known at Virtual workshop on Leveraging fiscal regulations to attract Investments in the Petroleum sector, on Thursday.

    He said that there was the need for policy that would help drive the expected investments and stimulus in the upstream oil and gas sector for employment generation and economic growth.

    The News Agency of Nigeria recalls that the Minister of State for petroleum Resources, Chief Timipre Sylva had on July 14 announced that the PIB would be sent to the NASS in two weeks

    NAN also reports that the National Assembly (NASS) said it is expecting the new PIB  soon for deliberations and debate  to begin on the much-awaited piece of legislation

    He said there was need for aggressive exploration in the country noting that new fiscal policy of the PIB must reduce government participation to enable investors to participate.

    He said that currently only the Nigerian National Petroleum Corporation (NNPC) had been involved in exploration in the country.

    This, he said, was not good for the sector with the role oil and gas sector played in the economic development of the country.

    NAPE president noted that government must ensure that it stuck to the date it had proposed in the presentation of the PIB to the National Assembly and ensure that its speedy paasage.

    “Due to lack of PIB, no exploration is currently going on in the country, only NNPC is the one operating; this is not good for the industry.

    “The industry especially the upstream needs a lot of palliatives, waivers and stimulus  to operate to enable it sustain employment .

    “We need policies in place to get thing done properly,’’ he noted.

    Tarka  further noted that delay in passing PIB had driven away  many investors to the sector adding that the quick passage of the bill would show the seriousness of Nigerian government in developing the sector.

    “Exploration is expensive, especially here, so as an investor, if I don’t see any seriousness by government to show how safe my investment will be, I will keep it elsewhere.

    “Until PIB is passed, investors will continue to look elsewhere to invest, so, there is no better time than now  to rob minds on this issue and get the bill passed,’’ he added.


    Edited By: Maureen Atuonwu (NAN)