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Nigeria To Showcase Offshore Opportunities, Potentials

see event details http://owa06.events.pennnet.com/

By Bassey Udo,

Energy Editor


Nigeria’s oil and gas industry is mobilising towards the effective participation in the 10th Offshore West Africa (OWA) Conference and Exhibition billed for next week.

The event, which is billed for Abuja between March 14 and 16, has the theme: “Leading the World in Deepwater Exploration and Production.”

Nigeria, which has the rare privilege of hosting the international event for the fifth time, would be attending with the theme: “Nigeria Deepwater – Discoveries, Opportunities and Challenges.”

Chairman, Planning Committee on the conference and General Manager, Group Public Affairs Department, Nigerian National Petroleum Corporation (NNPC), Dr Levi Ajuonuma, told a pre-conference media briefing over the weekend that Nigeria’s Oil and Gas Industry participation is hinged on the fact that it would help expose more Nigerian professionals to the latest technology in deep offshore exploration and production operations at cheaper cost.

Other benefits include opportunities to acquire new information that could be adapted for the development of the Nigerian petroleum industry as well as facilitating the formation of partnerships and alliances between Nigerian entrepreneurs and prospective investors.

Ajuonuma said Nigeria hopes to utilize the platform of the technical conference to showcase the increasing level of E&P activities in her offshore and deepwater basins; unfold the immense investment potentials the region holds for discerning investors; present significant milestones achieved by Nigerian companies in the delivery of major offshore and deepwater projects, as well as develop possible areas of partnerships between the Nigerian companies and foreign manufacturers and investors.

With efforts geared towards realizing the national objectives of increasing crude oil reserves to 40 billion barrels and production to 4 million barrels per day (bpd), he said the recent 2005 Licensing Round opened new investment opportunities that need to be brought to the knowledge of investors.

These include the participation of Nigerian companies as local content vehicles as well as the high prospects for Nigerians to partner foreign companies to set up service companies in the areas of seismic, drilling, engineering, tooling and logistics.

The gas sector, he pointed out, presents another area of huge business opportunity, particularly in the areas of engineering, procurement, project management and gas infrastructure development.

“On the whole, we will demonstrate why Nigeria deserves the investment dollar of every participant and trade visitor at the conference and exhibition,” he said, adding: “It is our patriotic duty, not only to demonstrate the giant strides the Nigerian oil and gas industry has made in our offshore and deep offshore activities, but to showcase the abundant opportunities existing therein, and encourage investors to come and partake in exploiting these resources for the benefit of all Nigerians and stakeholders.”

Though the list of participants is still being collated, Ajuonuma the final figure might double that of last year, which recorded more than 1077 trade visitors and delegates from 23 countries.

He said becoming a permanent host of the international and technical conference is Nigeria’s goal, as part of the overall national objective to emerging the hub of petroleum activities in the sub-Saharan Africa.

Minister of State for Petroleum, and President, Organisation of Petroleum Exporting Countries (OPEC), Dr Edmund Daukoru, would present the keynote address, while the Group Managing Director, NNPC, Dr Funso Kupolokun would speak on “Offshore Prospects and Perspectives for Nigeria”