Peter Uzoho
The Federal Ministry of Petroleum Resources has unveiled plans for the fifth edition of the Nigeria International Energy Summit (NIES) 2022.
Formerly known as the Nigerian International Petroleum Summit (NIPS), NIES is scheduled to take place in Abuja, from February 27 to March 3, 2022.
The summit, with the theme: “Revitalising the Industry: Future Fuels and Energy Transition”, aims at driving a new narrative around energy transition.
“Energy transition is real. That is the direction the industry is moving globally and Nigeria cannot afford to be left behind,” Minister of State for Petroleum Resources, Chief Timipre Sylva, said.
In line with the new focus, the scope of NIES 2022 has been expanded to incorporate the latest industry trends and topical issues that are driving the global energy transition agenda.
As the marginal oilfields awardees strategise to develop and bring their allocated oil blocks to production, Peter Uzoho writes on the need for them to draw lessons from one of the previous marginal fields’ awardees and current operator of Egbaoma field The development of oilfields into first oil or gas production poses a lot of challenges to the operators. Companies that lack the needed fund to deploy to field, the right technical competence, efficient cost management and unable to collaborate with the right partners often see themselves chickening out of the venture, leaving the fields fallow..
The challenges are quite diverse, ranging from funding, fiscal terms, partnership issues, availability of enabling facility, issue of pricing and off-taker, for gas, as well as political, governance and environmental hurdles. These challenges are partly responsible for the inability of the 11 of the 24 marginal oilfields awarded to oil companies during the 2003/2004 marginal fields bid
Share
Nigeria’s natural gas reserve has risen to 206.53 Trillion Cubic Feet (TCF), just as the Department of Petroleum Resources (DPR) announced a development showing that the country’s declaration of the gas decade is on course.
The Managing Director and CEO of the Department of Petroleum Resources, Sarki Auwalu in a presentation at Nigerian International Petroleum Summit on June 10, made the declaration.
Of this figure, Associated gas stands which stand for gas discovered while drilling for oil stands at 100.73 TCF while Non-Associated Gas reserves now stand at 105.80 TCF.
Auwalu praised independent field operators who he said played a critical role in developing the reserves.
Nigeria s new drive to industrialisationOpinion — The Guardian Nigeria News – Nigeria and World News guardian.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from guardian.ng Daily Mail and Mail on Sunday newspapers.
DPR Lists Levers for Robust Gas Devt in Nigeria thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.