NAPE Summit To Address Opportunities In Nigeria’s Oil & Gas Industry

Experts that will converge at the upcoming the Nigerian Association of Petroleum Explorationist (NAPE) conference, are expected to address opportunities for players looking to invest in the country’s oil and gas sector.

The chief executive officer, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe has been scheduled to deliver the special guest presentation, alongside other industry players.

He will lead conversation at the Nigerian Association of Petroleum Explorationist (NAPE) conference that is coming at a time when operating oil and gas international companies are considering divestment options in Nigeria’s onshore and shallow offshore area.

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According to NAPE, the global oil and gas industry is undergoing an accelerated evolution to respond to the world’s growing demand for cheaper, cleaner, and sustainable energy.

NAPE president, Dr James Edet, noted that, the 70-year-old Nigeria oil and gas upstream industry is going through additional significant transformations that are completely changing its business landscape.

Edet said, the association will be leading the conversation via a workshop themed, ‘The big sale: Opportunities in the Nigerian oil and gas industry from asset divestments’, scheduled to hold at a hybrid event in Lagos, tomorrow.

Edet explained that the transformations in the oil and gas sector are driven primarily by the passing into law of the ‘Petroleum industry Act’, asset divestments and insecurities of critical upstream facilities.

“The workshop gathers critical stakeholders, decision makers and eminent speakers of the Nigerian oil & gas industry to discuss opportunities, barriers, and solutions to challenges to harness the opportunities in the Nigerian oil and gas divestments.

“There are focused presentations to be delivered on the divestment opportunities and the challenges of insecurity, crude theft, and asset decommissioning, funding challenges, divestment strategies and incentives; and PIA: the new laws and policies; regulator’s role in divestments,” he added.